EURUSD is facing 1.2921 resistance, a break above this level will indicate that a cycle bottom has been formed at 1.2587 already, and the fall from 1.3333 has completed, then range trading between 1.2587 and 1.3333 could be seen. Key support is at 1.2587, only break below this level could trigger another fall towards 1.2200 zone.
For long term analysis, EURUSD formed a cycle top at 1.3333 level on weekly chart. Pullback to 1.2200 is expected in next several weeks. However, the fall is treated as correction of uptrend from 1.1876, another rise towards 1.4000 is still possible after correction.
