EURUSD Weekly Analysis – January 30, 2016

EURUSD moved sideways in a narrow range between 1.0707 and 1.1059 for several weeks. The price action in the range is likely consolidation of the uptrend from 1.0517. Another rise could be expected after consolidation, and the target would be at 1.2000 area. Support levels are at 1.0700 and 1.0517, only break below these levels could trigger another fall towards 1.0000.

eurusd chart