EURUSD Weekly Analysis – October 14, 2018

EURUSD continued its sideways movement in a trading range between 1.1301 and 1.1851. The sideways movement is likely consolidation for the downtrend from 1.2555. As long as 1.1851 key resistance holds, the downside movement could be expected to resume, and a breakdown below 1.1432 support could trigger another fall towards 1.1000. Only a breakout of 1.1851 resistance could signal completion of the downtrend.

EURUSD daily chart