EURUSD Weekly Analysis – October 2, 2016

EURUSD continued its sideways movement in a range between 1.1122 and 1.1366. The sideways movement is likely consolidation of the uptrend from 1.0911. Further rise to 1.2000 area would likely be seen after consolidation. Support is at 1.1122, only break below this level will indicate that the uptrend had completed at 1.1366 already, then the following downward movement could bring price to 1.0600 zone.

eurusd chart