EURUSD
The market has not managed to post a weekly close above the 1.4720 resistance level (and previous target) despite trading above there on an intra-week basis for two weeks.
Last week saw a doji like pattern on the weekly candle chart which reflects some indecision.
Given the short term indications of weakness in risk appetite (stocks and commodities under pressure) we would not be surprised to see a period of consolidation for the USD and possibly a correction down on EURUSD. Near term support is at 1.4540 (trend across the highs) followed by 1.4448.
EURUSD - short term correction is possible
Linear Mode
