EURUSD Weekly Analysis – February 2, 2019

EURUSD failed to break below 1.1215 support and continued its sideways movement in a trading range between 1.1215 and 1.1570. Another rise to test 1.1570 resistance could be expected next week, above this level could trigger further upside movement to 1.1700 zone. Support is at 1.1215, a breakdown below this level would indicate that the downtrend from 1.2555 (Feb 16, 2018 high) has resumed, then next target would be at 1.1000 area.

EURUSD daily chart