EURUSD Daily Analysis – December 5, 2014

EURUSD remains in downtrend from 1.2867 (Oct 15 high), the rise from 1.2280 is likely consolidation of the downtrend. Key resistance is at 1.2599, as long as this level holds, the downtrend could be expected to resume, and another fall towards 1.2000 is still possible.

eurusd chart