EURUSD Daily Analysis – May 2, 2018

EURUSD’s downside movement from 1.2413 extended to as low as 1.1981. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.1900 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

EURUSD 4-hour chart