EURUSD Weekly Analysis – April 26, 2015

EURUSD continued tis sideways movement in a range between 1.0462 and 1.1052. Near term resistance is at the top of the price channel on daily chart, followed by 1.1052. As long as 1.1052 resistance holds, the sideways movement could be treated as consolidation of the downtrend from 1.3993 (May 8, 2014 high), another fall towards 1.0000 is still possible. Key resistance is at 1.1533, only break above this level could signal completion of the downtrend.

eurusd chart