EURUSD Weekly Analysis

EURUSD stays below a falling trend line on its daily chart and remains in the downtrend from 1.2413. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 1.1450 area.

On the upside, a breakout of the trend line resistance could bring the price back to next resistance level at 1.1830. Above this level would suggest that the downside movement is complete, then further rally towards 1.1996 resistance could be seen.

 

EURUSD Daily Chart: