EURUSD moved sideways in a trading range between 1.1508 and 1.1851. As long as 1.1851 resistance holds, the price action in the range could be treated as consolidation for the downtrend from 1.2555 and further decline to 1.1000 area is still possible after the consolidation. Only a breakout of 1.1851 resistance could signal completion of the downtrend.
