• The first time-frame trend is a down trend.
• The second time-frame trend is down.
• The third time-frame trend is sideways or neutral.

• The trend-line identified in the previous week is still intact you can see it here. 

• The most relevant Support level is around 1.04620. This level has provided support to EURUSD in March 2015 and December 2015. It is most likely to provide support in the future.
• The most relevant Resistance level is around 1.09400. This level provided Support to the EURUSD before it was broken to be a Resistance level. 

• In the last bar, price made a new low but the volume was lower than the previous volume indicating that sellers are losing commitment and the downward move is more likely to fail.
• The previous low on the Support line on 29 Nov 2015 had higher volume compared to the latest low at the same level that has lower volume. This suggest that the sellers are losing commitment and downtrend is likely going to fail.

Daily Bar Chart Analysis

• In the last bar, the close is lower than the previous day close indicating that sellers were keener and willing to drive the price down.
• The close of the last bar is closer to the low of the day indicating that sellers were in control at the close of the market.
• The market opened near the high and closed near the low suggesting that sellers were in control during the day.
• The range of the bars in contracting on the downside showing that sellers are becoming less eager.