EURUSD Weekly Analysis – May 15, 2016

EURUSD stays in the upward price channel on daily chart, and remains in uptrend from 1.0517, the fall from 1.1616 is likely consolidation of the uptrend. Support is located at the bottom of the channel. As long as the channel support holds, the uptrend could be expected to resume, and another rise to 1.2000 area to complete the upward movement is possible.

eurusd chart