EURUSD formed a sideways consolidation in a range between 1.3258 and 1.3785 for two weeks. As long as 1.3785 resistance holds, we’d expect down trend to resume and further fall towards 1.3000 zone to reach the next cycle bottom on daily chart is still in favor after consolidation.
For long term analysis, EURUSD remains in long term bearish movement, further fall towards 1.3000 zone to reach next cycle bottom on weekly chart is expected in a couple of weeks.
