EURUSD Weekly Analysis – December 21, 2014

EURUSD broke below 1.2247 previous low, indicating that the downtrend from 1.3993 has resumed. Near term resistance is at the downward trend line on daily chart, as long as the trend line resistance holds, further decline could be expected, and next target would be at 1.1500 area. Key resistance is at 1.2599, only break above this level could signal completion of the downtrend.

eurusd chart