The pair has touched its peak at 1.16138. Frankly speaking when it broke the 1.16 area I thought the road up to 1.173+ was pretty clear but likely the EUR had run out of steam and plunged down over 100 pips. As a matter of fact the pair was growing without any correction last week and during the 2 days of this week. I could assume sooner or later it would definitely reverse but US Dollar Index
was in panic selling breaking the critical 92 level. Anything could have happened but hopefully the bears came into play.