I usually consider myself finding contrarian trends right before they settle in. I am sensing EURUSD is testing the resistance line after the breakout back in October. Earlier this was tested in November but failed to go above.
If we can stay below 1.2350 - 1.24 for the rest of this and next month then I can see a strong pullback first near 1.15 then a retracement to sub 1.19-1.20 area before giving up to all the way 1.07-1.05 where the weekly gap is still open.
This trend may complete by year end but I think this year is of USD Bulls and a bad start is to shake the confidence of the retail traders only.
3-4 Interest rate rise is given this year and Tax change shall take the $DXY , USDJPY nearly 5-10% from current levels and EURUSD should correct 10-15% and give up entire gains of 2017