Three times in a row, rising trend channels broke when crossing the dominant bearish trend line. Therefore a break to the downside is expected, continuing this overall trend (support can be found around 1.20). This is in line with the fundamentals (referring to Draghi´s language on Friday). I am planning to short this pair on Monday, although I will wait for information on the German business climate that will come out Monday 10:00 CET.
You don´t need to be a weatherman to know which way the wind blows - B. Dylan