EURUSD Weekly Analysis – January 15, 2017

EURUSD remains in downtrend from 1.1366, the rise from 1.0340 is likely consolidation of the downtrend. Key resistance is at 1.0873, as long as this level holds, the downtrend could be expected to resume, and further decline to 1.0000 area is still possible. On the upside, a break of 1.0873 resistance will indicate that the downtrend had completed at 1.0340 already, then the following upward movement could bring price to 1.1450 zone.

eurusd chart