long term down trend still not broken. QE from ECB is accelerating the downtrend movement. recent trend is showing a bearish butterfly. the downside could be looking at 1.02-1.05 range if the bearish butterfly completed. there is also chance that the EURUSD rebound to 1.21-1.22 range and then resume the downtrend. over the long term. chances are the EURUSD may see trading at near par at end of the 2016.