EURUSD ANALYSIS Part 2a - WEEKLY CHART

After analyzing the monthly chart I have moved to the weekly chart to continue my analysis. Here, I see price action continuing to make lower highs and lower lows as indicated by the series of black crosses. A downward trend is identified by a series of lower highs and lower low Fractals, I prefer to call these swing points as fractals has another meaning in technical analysis. A downward trend stays in motion until proven otherwise. To stop the downward trend price action must form a higher low, this has not yet occurred.