EURUSD Weekly Analysis - May 4, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 04 May 2014 07:26 UTC
EURUSD stays in a trading range between 1.3672 and 1.3966. As long as 1.3672 support holds, the price action in the range could be treated as consolidation of the uptrend from 1.2747 (Apr 4, 2013 low), one more rise towards 1.4500 is still possible after consolidation. On the downside, a breakdown below 1.3672 support will indicate that the uptrend had completed at 1.3966 already, then the following downward movement could bring price to 1.2400 zone.

eurusd chart

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