EURUSD Weekly Analysis – February 10, 2019

EURUSD continued its sideways movement in a trading range between 1.1215 and 1.1570. As long as 1.1570 resistance holds, the price action in the range could be treated as consolidation for the downtrend from 1.2555 (Feb 16, 2018 high), a breakdown below 1.1215 support could trigger further downside movement towards 1.1000. On the upside, a break of 1.1570 resistance could take the price to next resistance level at around 1.1800.

EURUSD daily chart