EURUSD Daily Analysis – May 21, 2019

EURUSD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 1.1263. As long as the price is below the trend line, the bounce from 1.1150 could be treated as consolidation for the downtrend, further decline towards 1.1120 area is still possible after the consolidation. Only break above the trend line resistance could bring the price back to 1.1200 area.

EURUSD 4-hour chart