It's rumoured that the ECB are going to announce an extension to the QE program. Based on Draghi's comments recently, they have every expectation to continue with it for the time being with no hope of things improving. He pointed out that reforms need to happen and their policies were limited.
The EU is sitting on 10% GDP after you deduct the debt. To put it into perspective, last year their GDP was 11539.74 billion and 90% of that, or 10385.77 is debt.
Now consider they cannot make all their payments monthly and have to lend more to meet obligations. Adding this extension to what is already an extraordinary QE program is only going to put them deeper in the hole.
We might see lows in eurusd printed soon that were last seen in 2003.
2003 low was 1.05040 , it was already close to that last week @ 1.05172. Do you mean 2002 area? Range 0.85730 - 1.05050
Fwiw, I have 0.92000 - 0.96000 pencilled in as a target zone.