EURUSD Daily Analysis – March 18, 2015

EURUSD remains in downtrend from 1.1450, the rise from 1.0462 is likely consolidation of the downtrend. Range trading between 1.0462 and 1.0700 is possible in a couple of days. As long as 1.0700 resistance holds, the downtrend could be expected to continue, and next target would be at 1.0200 area. Only break above 1.0700 resistance could signal completion of the downtrend.

eurusd chart