EURUSD Weekly Analysis – December 8, 2019

EURUSD stays in a falling price channel on the daily chart and remains in the downtrend from 1.1570 (Jan 10 high). As long as the channel resistance holds, the price action from 1.0879 could be treated as consolidation for the downtrend, and further decline to 1.0750 area is possible after the consolidation. Key resistance is at 1.1179, only break above this level could signal completion of the downtrend.

EURUSD daily chart