Price has rejected off of daily resistance level 1.11750 once more, & made a strong impulse back to the downside off this level. Price has now reached support, & may be looking to form a head on shoulders formation, will be watching price to make a pullback to the zone above where a completion of the right shoulder may occur, & a reversal back down to break the ascending trend line where then price can make its way further down.
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D1: Rejection at the daily highs
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H4:
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Weekly: Overall trend still remains bearish
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US Dollar Index (Weekly): Vise versa with EURUSD, price has rejected off the bottom of the long term channel bottom & may look to make its way back up again