EURUSD Daily Analysis – May 2, 2017

EURUSD is forming a sideways consolidation in a trading range between 1.0820 and 1.0950. As long as the pair is above 1.0820 support, the uptrend from 1.0569 could be expected to resume after the consolidation and next target would be at 1.1000 area. However, a breakdown below 1.0820 support could signal completion of the uptrend, then the following pullback could bring price back to 1.0600 zone.

EURUSD chart