EURUSD Daily Analysis – May 3, 2018

EURUSD stays below a downward trend line on the 4-hour chart and remains in the downtrend from 1.2413. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 1.1900 area. On the upside, a breakout of 1.2031 resistance would suggest that the downside movement is complete, then the pair would find next resistance at around 1.2200.

EURUSD 4-hour chart