EURUSD Weekly Analysis – August 24, 2014

EURUSD’s downward movement from 1.3993 extended to as low as 1.3220. Further decline is still possible over the next several weeks, and next target would be at 1.3000 area. Resistance is located at the downward trend line on daily chart, only a clear break above the trend line resistance could signal completion of the downtrend.

eurusd chart