EURUSD Daily Analysis – December 8, 2014

EURUSD’s downward movement from 1.2599 extended to as low as 1.2271. Further decline could be expected, and next target would be at 1.2000 area. Resistance is now located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could trigger another rise to1.2700 area.

eurusd chart