EUR/USD Remains In Downtrend
Franco Shao | Sep 14, 2014 11:42PM ET
EURUSD remains in downtrend from 1.3411, the rise from 1.2859 is likely consolidation of the downtrend. Near term resistance is at 1.2987, as long as this level holds, the downtrend could be expected to resume, and another fall towards 1.2500 is still possible after consolidation. Key resistance is at the downward trend line on 4-hour chart, only a clear break above the trend line resistance will signal completion of the downtrend, then the pair will find resistance around 1.3100.
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