EURUSD Weekly Analysis – July 31, 2016

EURUSD is facing the resistance of the downward trend line on daily chart. As long as the trend line resistance holds, the downtrend from 1.1616 could be expected to continue, and next target would be at 1.0600 area. However, a clear break above the trend line resistance will signal completion of the downtrend, then the following upward movement could bring price to 1.2000 zone.

eurusd chart