EURUSD Weekly Analysis – May 17, 2015

EURUSD is facing 1.1533 resistance, a break of this level will indicate that the downtrend from 1.3993 (May 8, 2014 high) had completed at 1.0462 already, then the following upward movement could bring price to 1.3000 area. However, as long as 1.1533 resistance holds, the rise from 1.0462 would possibly be consolidation of the downtrend, one more fall to 1.0000 area to complete the downward movement is still possible.

eurusd chart