EURUSD Weekly Analysis – September 20, 2020

EURUSD broke below the rising trend line on the daily chart and continued its sideways movement in a trading range between 1.1695 and 1.2010. As long as 1.1695 key support holds, the sideways movement could be treated as consolidation for the uptrend from 1.0635 and further rise towards 1.2300 area is possible after the consolidation. Only a breakdown below 1.1695 support would indicate that the upside movement had completed at 1.2010 already, then further decline to 1.1300 area could be seen.

EURUSD daily chart