EUR/USD pair was downward trend for last few days. There was struggle between bulls and bears because bulls were trying to get control back from bears since EUR/USD started downward move from 1.3990. We talked about in previous analysis that strength of downward trend is continuously diminishing with the passage of time. Finally bulls took control back on last working day and this pair started upward move. Euro plunged today on release of some relevant figures. However, it is expected that euro will recover soon towards the initial resistance line located at 1.3616.