EURUSD’s down trend from 1.6038 extends to 1.4660 level. Further fall towards 1.4500 is in favor next week. Initial resistance is located at 1.4985, only rise above this level will signal consolidation to down trend.
For long term analysis, EURUSD broke below 1.5284 (May 8 low) support and formed a double top pattern on weekly chart. Deeper decline towards 1.4000 level to reach next cycle bottom on weekly chart is now in favor.
