EURUSD Weekly Analysis – May 26, 2019

EURUSD moved sideways in a trading range between 1.1110 and 1.1270. As long as the price is below the falling trend line on the daily chart, the sideways movement could be treated as consolidation for the downtrend from 1.1570, further decline to 1.1000 area could be expected after the consolidation. Near term resistance is at 1.1270, a break of this level could bring the price back towards the trend line.

EURUSD daily chart