EURUSD Weekly Analysis – May 11, 2019

EURUSD remains in the downtrend from 1.1570. As long as the price is below the bearish trend line on the daily chart, the bounce from 1.1110 could be treated as consolidation for the downtrend. Further decline could be expected after the consolidation 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