Weekly reviews

EURUSD technical outlook

EURUSD

Weekly chart:

The single currency continued volatile accumulation in the 1.1300-1.1513 range. Decline goes very actively, but its potential is limited because a full-rate upswing wasn’t completed before. This reveals a low probability of break of the support zone 1.1216-1.1300.

Conclusions:

So, we expect new testing of the 1.1216-1.1300 zone and then we are likely to see new phase of the growth towards 1.1500.

Trading recommendations:

Search for local buy signals at the 1.1216-1.1300 area.