More of a technical play here, as the market bounced off the 2016 highand has now reached a key inflection point where the 1.150 handle meets Fib618 from the high of the previous leg lower and also horizontal resistance at 1.1490. Technically the lower trendline here if that were to break would be further bearish confirmation.

Fundamentally, if the Euro             growth story continues to stall and slow, core CPI             in Euro             area continues to slow in to year end (opposite to ECB rhetoric) and the US continues on rate path of hiking in to Decemeber and in to 2019 I think the USD will press on and drive EURUSD             lower.
CHF has been acting a bit strange, not reacting as normally to usual risk off character and has rebounded here for reasons I dont understand.

Good technical set up and nice reward. Trade offers potential 10 to 1 returns if played back down to the 2018 low 1.1200. With s stop placed just above Fib618 and 1.15 handle a sigificant breach of this level would reassess this market.