EURUSD Weekly Analysis – June 28, 2014

EURUSD failed to break below 1.3477 key support, indicating that the pair remains in uptrend from 1.2747 (Apr 4, 2013 low), and the fall from 1.3993 could be treated as consolidation of the uptrend. As long as 1.3477 support holds, the uptrend could be expected to resume, and one more rise to 1.4500 to complete the upward movement is still possible. On the other side, a breakdown below 1.3477 support could signal completion of the uptrend, then the following downward movement could bring price to 1.1500 area.

eurusd chart