EURUSD Weekly Analysis – September 30, 2018

EURUSD failed in its attempt to break above 1.1851 resistance and pulled back to 1.1570 area, suggesting that the pair remains in the downtrend from 1.2555 and the price action from 1.1510 could be treated as consolidation for the downtrend. Near term support is at 1.1525, a breakdown below this level could take the price towards 1.1301 previous low. Only a breakout of 1.1851 resistance could signal completion of the downtrend.

EURUSD daily chart