As expected, EURUSD formed a cycle top at 1.4579 level on daily chart. Deeper decline is now in favor and next target would be at 1.3800 area. Resistance is at 1.4250, as long as this level holds, downtrend from 1.4579 is expected to continue.
For long term analysis, EURUSD has formed a cycle top at 1.5144 level on weekly chart. Fall towards 1.3500 area to reach next cycle bottom is expected in next several weeks.
