EURUSD Weekly Analysis – December 16, 2018

EURUSD continued its sideways movement in a trading range between 1.1215 and 1.1500. As long as 1.1500 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.1815 and further decline towards 1.1000 is still possible after the consolidation. Only a break of 1.1500 resistance would indicate that the fall from 1.1815 had completed at 1.1215 already, then further rally to 1.1700 area could be seen.

EURUSD daily chart