EURUSD Weekly Analysis - August 2, 2015

Long Term Forex Analysis | by ForexCycle.com | Sunday, 02 August 2015 08:58 UTC
EURUSD moved sideways in a trading range between 1.0808 and 1.1467. As long as 1.0808 support holds, the price action in the range could be treated as consolidation of the uptrend from 1.0462, another rise towards 1.2500 could be expected after consolidation. On the downside, a breakdown below 1.0808 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 area.

eurusd chart

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