EURUSD Daily Analysis – January 11, 2018

EURUSD remains in the downtrend from 1.2089, the bounce from 1.1915 is likely correction of the downtrend. Another fall could be expected after the correction and a breakdown below 1.1915 support could take price to the bullish trend line on the daily chart now at around 1.1835. A clear break below the trend line could trigger further downside movement towards 1.1712 support. Near term resistance is at 1.2018, only a break above this level could bring price to test 1.2092 (Sep 8 high) resistance.

EURUSD 4-hour chart