EURUSD Weekly Analysis – July 26, 2014

EURUSD broke below 1.3477 support, indicating that the uptrend from 1.2747 (Apr 4, 2013 low) had completed at 1.3993 already. The pair is now in downtrend, further decline could be expected over the next several weeks, and next target would be at 1.3000 area. Key resistance is now at 1.3700, only break above this level could signal completion of the downtrend.

eurusd chart