The Strong EUR/USD Bearish Trend Continues

That is logical, considering how strong the dollar has been in the past few months.

On the monthly time frame you can see that the pair is in a historical support zone, from which it has rebounded twice (during April and December 2015). The support zone is marked by a thick blue line on the chart above, but it is also marked by the BB indicator, since the pair has reached the support of the lower band.

On the weekly time frame the pair is analyzed according to the Elliott Wave Theory, based on which the move to the downside is not over yet.

On the H1 time frame there is a RSI divergence between two lows (you can see the same divergence on the H4 time frame as well at the moment), but considering the strong bearish trend it should not be a good enough signal for a deep correction.

On the M15 time frame there is a pennant and the pair has broken below its support trendline, heading towards its limit, which is at 1.0566.

For now we can only guess whether the pair will stop there and will rebound for a correction or it will continue falling, breaking below that historical support zone. At this moment it is clear for me, however, that the possibility to see EUR/USD reach parity is increasing.