EURUSD Weekly Analysis – September 2, 2018

EURUSD remains in the downtrend from 1.2555, the price action from 1.1510 is likely consolidation for the downtrend. Key resistance is at located at 1.1851. As long as this level holds, the downtrend could be expected to resume and another fall towards 1.1000 is still possible after the consolidation. Only a breakout of 1.1851 resistance could signal completion of the downtrend.

EURUSD daily chart