EURUSD Weekly Analysis – April 19, 2015

EURUSD moved sideways in a range between 1.0462 and 1.1052. As long as 1.1052 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 is still possible after consolidation. Key resistance is at 1.1533, only break above this level could signal completion of the downtrend.

eurusd chart