The price already reached first target zone of the and and the price could continue lower towards 1.11 and 1.1
The price is still above the Fast line and we can see some short term pullback towards 1.13 and the 200 line - That's possible short term setup for the coming week..
but eventually, as long as the price remains below the 200 line, it could reach the daily uptrend line and the major near 1.1 which will be a very interesting buying zone that could lead $EURUSD to a real breakout of 1.14 and to the longer term correction move I'm anticipating from this currency pair.
A breakdown of the 1.1 could be devastating to $EURUSD and may hint that it is heading towards 1.0.
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews - http://goo.gl/XFmdhN
To subscribe to the newsletters - http://goo.gl/HXjCPV