EURUSD has moved back into its range that it has formed since April. After rising into the 1.17 handle earlier this week the pair has fallen below the key 1.15 level to 1.12 by Friday. Resistance is provided by the 200-day moving average and the kijun-sen line at 1.1282. To the downside, the top of the daily Ichimoku cloud would guard against a further decline but if prices continue to fall through it then the key 1.10 level comes into focus.
With the market back into a range, it is difficult to determine a direction for now and we would need to see more signals.
Looking at the bigger picture, EURUSD was in a downtrend since May 2014. There could be a resumption of this downtrend if prices break back below 1.0461.