EURUSD Daily Analysis – May 1, 2014

EURUSD is facing 1.3879 resistance, a break above this level will signal resumption of the uptrend from 1.3672, then next target would be at 1.3950 area. On the downside, as long as 1.3879 resistance holds, the rise from 1.3775 would possibly be consolidation of the downtrend from 1.3905, one more fall to 1.3750 area to complete the downward movement is still possible.

eurusd chart