EURUSD Weekly Analysis – March 1, 2015

EURUSD stayed in the trading range between 1.1097 and 1.1533. As long as 1.1533 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.3993 (May 8, 2014 high), another fall towards 1.0000 could be expected after consolidation, and a breakdown below 1.1097 support could signal resumption of the downtrend.

eurusd chart