EUR/USD: a chance for recovery
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On H4, the EUR/USD pair has fallen to the important support at 1.1126 and rebounded. It's a good chance for the euro to recover. We can anticipate a continuation of the rise as the pair has reached the level of 1.1144. Then the next target will be placed at 1.1168 (upper boundary of the previous consolidation range).
Alternative scenario: on the daily chart, the pair formed the head and shoulders pattern. And the target of the pattern is located much lower than 1.1126. If the pair moves below 1.1126, the next level to watch is 1.1110. A great plunge will be confirmed only after the slide below 1.1065.
