EURUSD Daily Analysis – May 9, 2014

EURUSD broke below the upward trend line on 4-hour chart, indicating that the uptrend from 1.3775 had completed at 1.3993 already. Further decline could be expected, and next target would be at 1.3750 area. Resistance is at 1.3900, as long as this level holds, the downtrend from 1.3993 will continue.

eurusd chart