The EUR/USD was bullish throughout January, but has been shifting the trend in the past couple of weeks. Let's review this shift and see where price might be going.EUR/USD 4H Chart 2/14(click to enlarge)Signs of a Shift:1) The first sign was when price fell below the rising channel support. The RSI also dipped below 40, which shows loss of the prevailing bullish momentum.2) A pullback failed to push price back above the 100-period simple moving average. Price also turned a previous support pivot into a resistance pivot.3) Price broke below a key support pivot from late January. 4) Again, price respected the support area of the brief range it broke below.5) Price continued to break lower during the 2/13 session, signaling a continuation of a new bearish trend.Key Levels:- The 1.0650-1.0655 resistance area is an key intra-week pivot. - If price climbs back above 1.06 and then above 1.0655, then the downtrend would be broken.- Otherwise, there is downside at least to the 1.05-1.0520 area. This could be a possible "shoulder" of an inverted head and shoulder.- This is a conservative bearish outlook with consideration of a possible bullish reversal in development.- If instead, price continues the downward path seen in the late 2016 months, then the 1.0335-1.0350 lows at the turn of the year would be in sight. - Again, a break above 1.0655 would invalidate our bearish targets and put the 1.08 area in view.EUR/USD Daily Chart 2/14(click to enlarge)