EURUSD Weekly Technical Analysis (25-29 May,2015) | May 24, 2015

After creating divergence on H4 on eurusd, it was falling last week. At the last day, it has also broken 1.1065 strong support level. This pair has got back its bearish power with full strength. On weekly chart, we can see bearish engulfing candle which covers previous two weekly candle and this is an indication of bearish trend of this pair. So this pair can look for more bearish in the coming days. It can take little retrace and then we can expect more down on this pair. 1.0800 will be our 1st target for this pair.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.1624

Resistance One (R1): 1.1318

Pivot Point: 1.1159

Support One (S1): 1.0853

Support Two (S2): 1.0694