Could this be the bumpy wave that comes just before the "Sell in may and Go away" fall? Monthly price action suggests that we could be entering a new downtrend after hitting around the 1.3964 area which may or may not continue past price: 1.30. Opposite correlations such as the Dollar Index seem to be pointing moderately upwards, while the Dow Jones (which is a positive EU correlation) seems to be following the bearish sentiment that the EURO is outputting. Trade carefully and be alert for the 'lone bull' and the cliche for May! :D