Morgan Stanley made a fundamental forecasl for this week related to EUR/USD - they estimated for this pair to be bearish trend to be continuing:
- "The surprisingly dovish ECB meeting has shifted our stance on EUR. By
indicating that -0.20 is not the lower bound for interest rates, Draghi
has made clear that further rate cuts, in addition to more asset
purchases, are a possibility."
- "This combination of increased liquidity and lower interest rates is the most negative combination for EUR, and should weaken the currency. In addition, citing the currency as a risk for inflation highlights the central bank’s focus on battling EUR strength."
From the technical points of view - this pair is on bearish market condition: the price is breaking 1.1086 support level on weekly chart together with symmetric triangle pattern which is going to be broken from above to below. Thus, the most likely scenario is the bearish trend to be continuing with 1.0807 as the target.