EURUSD Weekly Analysis – February 28, 2016

EURUSD’s fall from 1.1376 extended to as low as 1.0911. Deeper decline to test 1.0700 support is possible next week, as long as this level holds, the fall could be treated as consolidation of the uptrend from 1.0517, another rise towards 1.2000 could be expected after consolidation. On the downside, a breakdown below 1.0700 support will indicate that the uptrend from 1.0517 had completed at 1.1376 already, then the following downward movement could bring price to 1.0000 zone.

eurusd chart