EURUSD Weekly Analysis – September 4, 2016

EURUSD broke below the bottom of the price channel on daily chart, indicating that the upward movement from 1.0911 had completed at 1.1366 already. Further decline could be expected over the next several days, and next target would be at 1.0600 area. Resistance is at 1.1366, only break above this level could trigger another rise towards 1.2000.

eurusd chart