EURUSD Weekly Analysis – February 15, 2015

EURUSD remains in downtrend from 1.3993 (May 8, 2014 high), the rise from 1.1097 is likely consolidation of the downtrend. Range trading between 1.1097 and 1.1600 would likely be seen in a couple of weeks. As long as 1.1600 resistance holds, the downtrend could be expected to resume, and another fall towards 1.0000 is still possible.

eurusd chart