EURUSD Weekly Analysis – June 28, 2015

EURUSD moved sideways in a trading range between 1.0819 and 1.1467. As long as 1.0819 support holds, the sideways movement could be treated as consolidation of the uptrend from 1.0462, and further rise towards 1.3000 is still possible after consolidation. On the downside, a breakdown below 1.0819 support will indicate that the long term downtrend from 1.3993 (May 8, 2014 high) has resumed, then the following downward movement could bring price to 1.0000 zone.

eurusd chart