EURUSD Weekly Analysis – December 14, 2014

EURUSD broke above the upper line of the price channel on daily chart, indicating that consolidation of the downtrend from 1.3993 is underway. Range trading between 1.2247 and 1.2599 would likely be seen in a couple of weeks. As long as 1.2599 resistance holds, the downtrend could be expected to resume, and another fall towards 1.2000 is still possible.

eurusd chart