If the Euro breaks out of this decade long channel, then the pattern is broekn, but I don't see that happening without China becoming the global super power over night.
Previously 1.56 acted as support and the Euro bounced up to 1.24, the highest it's been since 2013, but that was in an uptend and, very likely the last time it will go there, if and that's a big if, something happens politically with the US to weaken the dollar, the highest I'm expecting this pair is 1.22, within the descending decade-long channel, but when looking at the DXY/EXY, there is only one place this is going and that is down.
So if you're not already in this trade or want to add to your positions (did you take some profit at 1.52), we're looking for pullbacks into these zones, C is a last resort and I wouldn't personally want to sell that low, it's high risk.
D is a great position if we break through the support line and pullback.
Looking for a longer term move to carry on rotating down the long-term channel. There is no reason why the Euro will go up long term, while interest rates and the continual debt-buying program continues, this was confirmed today, sit tight and be patient.