EURUSD Daily Analysis – May 10, 2018

EURUSD remains in the downtrend from 1.2413, the bounce from 1.1822 is likely consolidation for the downtrend. 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 1.1750 area. The key resistance is at 1.1940, only a breakout of this level could signal completion of the downtrend.

EURUSD 4-hour chart