EURUSD Daily Analysis – January 15, 2018

EURUSD bounce strongly to as high as 1.2218, suggesting that the uptrend from 1.1717 has resumed. Further rise could be expected after a minor consolidation and next target would be at 1.2400 area. Near term support is at 1.2100. Only a breakdown below this level could bring price back towards the bullish trend line on the 4-hour chart.

EURUSD 4-hour chart