EURUSD Weekly Analysis – July 12, 2015

EURUSD is forming a sideways consolidation in a range between 1.0819 and 1.1467. As long as 1.0819 support holds, the uptrend from 1.0462 could be expected to resume, and another rise towards 1.3000 is still possible. However, a breakdown below 1.0819 support will indicate that the pair remains in long term downtrend from 1.3993 (May 8, 2014 high) , then the following downward movement could bring price to 1.0000 zone.

eurusd chart