EURUSD Weekly Analysis – September 18, 2016

EURUSD is facing the support of the price channel on daily chart. A clear break below the channel support will indicate that the upward movement from 1.0911 had completed at 1.1366 already, then the following downward movement could bring price to 1.0600 zone. However, as long as the channel support holds, the uptrend could be expected to resume, and further rise to 1.2000 area is still possible.

eurusd chart