EURUSD Weekly Analysis – September 23, 2018

EURUSD is facing 1.1851 resistance, as long as this level holds, the price action from 1.1510 could be treated as consolidation for the downtrend from 1.2555, and another fall towards 1.1000 is still possible after the consolidation. Near term support is at 1.1525, a breakdown below this level could signal resumption of the downtrend. On the upside, a breakout of 1.1851 resistance would indicate that the downside movement had completed at 1.1301 already, then the pair would find next resistance at around 1.2000.

EURUSD daily chart