EURUSD broke below 1.3837 support and reached as low as 1.3627, suggesting that the downtrend from 1.4939 has resumed. Further fall could be expected in a couple of weeks, and next target would be at 1.3300 area. Resistance is now at 1.3850, as long as this level holds, downtrend will continue.
For long term analysis, EURUSD is downtrend from 1.4939. Further decline towards 1.2000 is expected in next several months.
