EURUSD Weekly Analysis – February 19, 2017

EURUSD’s bounce from 1.0340 had completed at 1.0828 already, the subsequent fall is likely resumption of the downtrend from 1.1616 (May 3, 2016 high). Further decline to test 1.0340 support is possible, and a breakdown below this level will confirm the resumption, then next next target would be at 1.0000 area.

eurusd chart