EURUSD dropped from 1.4696, suggesting that a cycle top had been formed on daily chart. Now the fall would possibly be resumption of downtrend from 1.4939. Deeper decline could be seen next week, and next target would be at 1.4100 area.
For long term analysis, EURUSD had formed a cycle top at 1.4939 on weekly chart. Further fall towards 1.1500 is possible in next several months.
