EURUSD remains in uptrend from 1.2042, the fall from 1.3171 is likely consolidation of the uptrend. Range trading between 1.2800 and 1.3171 is expected over the next several days. Another rise could be seen after consolidation, and a break above 1.3171 resistance could trigger another rise towards 1.3500.
For long term analysis, EURUSD had formed a cycle bottom at 1.2042 on weekly chart. Further rise towards 1.4000 could be expected over the next several weeks.
