EURUSD Weekly Analysis – December 23, 2018

EURUSD failed to break above 1.1500 resistance and stayed in a trading range between 1.1215 and 1.1500. The price action in the range is likely consolidation for the downtrend from 1.1815, a breakdown below 1.1215 support could trigger further downside movement towards 1.1000. On the upside, above 1.1500 resistance would suggesting that the downside movement is complete, then the pair would find next resistance at around 1.1700.

EURUSD daily chart