EURUSD Weekly Analysis – July 17, 2016

EURUSD stays below the downward trend line on daily chart, and remains in downtrend from 1.1616. Further decline could be expected after a minor consolidation, and next target would be at 1.0600 area. Resistance is at the downward trend line on daily chart, only a clear break above the trend line resistance could trigger another rise towards 1.2000.

eurusd chart