EURUSD remains in down trend and the fall from 1.4867 extends to as low as 1.2496 level. Deeper decline is still possible to 1.2000 zone in a couple of weeks. Near term resistance is at 1.2850 and key resistance is located at 1.3100, only rise above 1.3100 will signal reversal to down trend.
For long term analysis, EURUSD remains in long term bearish movement, further fall towards 1.2000 zone to reach next cycle bottom on weekly chart is expected in a couple of weeks.
