EURUSD Daily Analysis – January 9, 2018

EURUSD broke below the bullish trend line on the 4-hour chart, suggesting that the upside movement from 1.1717 had completed at 1.2089 already. Further decline would likely be seen after a minor consolidation and next target would be at 1.1860 area. Near term resistance is at 1.2030, only break above this level could trigger another rise towards 1.2092 (Sep 8 high) resistance.

EURUSD 4-hour chart