After a huge sell of with this pair maybe its time for a change considering the Euro is now gaining strength against most of its peers. after 3 lower highs and lower lows following this downward trendline, we could see a breakout of both the trendline and also resistance level 121.700. This could also break the 1hr 200MA (or 4hr 50MA) and lead up towards the 4hr 200MA where we will look for possible shorts.