EURUSD Daily Analysis – May 9, 2018

EURUSD stays below a falling trend line on its 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 1.1800 area. Key resistance is now at 1.1940, only a breakout of this level could signal completion of the downtrend.

EURUSD 4-hour chart