Eur/Usd going south?

The chart below shows the last few weeks, as we can see after having traded for months within the 1.25 to 1.29 range the cross started moving lower.

We have two meaningful signals given by the averages.

Where next? A rebound towards 1.2650 is likely before downtrend resumes: 1.2650 is the next key level, but should new lows be reached before we get that high this would strongly suggest that a strong downtrend is in action.