EURUSD Daily Analysis – December 21, 2016

EURUSD remains in downtrend from 1.0873, the price action from 1.0366 is likely consolidation of the downtrend. Resistance is at 1.0500, as long as this level holds, the downtrend could be expected to continue and next target would be at 1.0200 area. Only break above 1.0500 resistance could signal completion of the downtrend.

eurusd chart