Based on the DAILY CHART the pair seems to have formed a bottom at the 1.038 level. Nevertheless, it's caught in a downward channel and with the European political pressure in the next few months and the upbeat FED on US rate hikes, the risks for the EUR/USD pair remain to the downside. Based on the MONTHLY CHART, it's possible for the pair to try for the previous lows at around 1.035 and a reaction at that level to bring the pair about 100 pips higher at 1.045.

DAILY CHART

MONTHLY CHART
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