Twice the single currency has been rejected at the 1.12987 levels, forming a shooting star (bearish) formation. which sets up a possible test at the 1.112 range which is the 38% retracement from the may 3rd 2016 highs (1.160) to the January 3rd 2017 lows (1.034). This could open a possibility to test the 50% range at 1.097 range.