The range of the current down-trend of the EUR/USD is shown by the shaded area. Allowing c. 2.4% for upswings within the range suggests a Trailing Stop above 2.5%, e.g., at 3%. While the Euro has 6% more to go, as we near the target of $1.1, we should not be too surprised if a trend reversal happens a little early. We would review and reduce our Trailing Stop as the target is approached.