This price decline has been bounded in a steep within a larger-scale pattern. The latter surrender today, thus allowing the Euro to test the bottom junior line at 1.60.
Technical indicators on the 1H, 4H and 1D time-frames are located in the oversold territory. This demonstrates that the pair should soon enter a period of appreciation within the following two weeks, at least. This would send the pair back into the senior pattern and towards 1.1820 where the monthly S1 and the 200-hour are located.