EURUSD Weekly Analysis – May 4, 2019

EURUSD stays below a bearish trend line on the daily chart and remains in the downtrend from 1.1570. As long as the price is below the trend line, the downside movement could be expected to continue and next target would be at 1.1000 area. Near term resistance is at 1.1270, a break of this level could bring the price back towards the trend line.

EURUSD daily chart