TECHNICALS EURUSD has formed a 6 month rising wedge pattern. This pair has also recently formed the right shoulder to the 15 month head & shoulder pattern. Superb deceleration on the daily Stochastic RSI A small deceleration on the daily MACD. Lastly, looking at the 2 year long term trend we see that this pair is clearly in a down trend.
FUNDAMENTAL Although being in a global economic slowdown the US FED is yet to raise its low interest rates. Looking at the cme fedwatch tool ( may 6th, 2016) we see that implied probability states that a rate hike to 0.75% increases around JUNE to SEPTEMBER, EURUSD