EURUSD Daily Analysis – December 12, 2014

EURUSD moved sideways in a trading range between 1.2247 and 1.2599. The price action in the range could be treated as consolidation of the downtrend from 1.2867 (Oct 15 high), as long as 1.2599 resistance holds, the downtrend could be expected to resume, and another fall towards 1.2000 is still possible after consolidation.

eurusd chart