EURUSD Weekly Analysis – September 13, 2014

EURUSD is in downtrend from 1.3700, the rise from 1.2859 is likely consolidation of the downtrend. Resistance is located at the downward trend line on daily chart. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.2300 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

eurusd chart