EURUSD Weekly Analysis – March 3, 2019

EURUSD stays 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 to 1.1000 area. Only a breakout of 1.1570 resistance could signal completion of the downtrend.

EURUSD daily chart