EURUSD Daily Analysis – May 9, 2017

EURUSD remains in uptrend from 1.0569, the fall from 1.1021 would possibly be consolidation of the uptrend. Support is at 1.0874, as long as this level holds, the uptrend could be expected to continue and next target would be at 1.1050 area. On the downside, a breakdown below 1.0874 support will indicate that the upward movement had completed at 1.1021 already, then deeper decline to 1.0700 area could be seen.

EURUSD chart