What is the landscape for the pair.
The EURUSD remains bearish. The trend extended to new lows for the week- new lows going back to December 3rd (that will be the case until the 1.05187 level). The low today reached 1.0581. We are working on the 10th straight down day for the pair (yesterday's close was at 1.06216). The last up close was on November 4th at 1.1140. The move from that high close has taken the price down to 1.0568. That is 572 pips.
Looking at the daily chart, the next target on that chart comes in at the 1.0550-64 area (Lows from Nov/Dec 2015). The 1.05187 is a double bottom from Dec 2015 and April 2015. The 2015 lowest low reached 1.04607. On the daily chart, a move above the 1.0638 were some swing highs from Nov/Dec 2015.
Drilling in the hourly chart, the low in the Asian Pacific session stalled at a lower trend line. The other lows for the day stalled ahead of that low but we are now breaking below and making new lows. The lower trend line is down at 1.0541 now (and moving lower).
PS. The highs today stalled near the old topside trend line (was also near the resistance on the daily chart at the 1.0638).
The time ticks toward the end of the London session but the sellers remain in control The high for the week was in the first few hours of the trading week. It may just go out at the lows as well.