EURUSD Weekly Analysis - January 4, 2015

Long Term Forex Analysis | by ForexCycle.com | Sunday, 04 January 2015 07:22 UTC
EURUSD continued its downward movement from 1.3993 (May 8, 2014 high), and the fall extended to as low as 1.2000. Further decline could be expected after a minor consolidation, and next target would be at 1.1500 area. Key resistance is 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

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