EURUSD Daily Analysis – January 18, 2018

EURUSD broke below 1.2195 support, indicating that the short term uptrend from 1.1915 had completed at 1.2323 already. Deeper decline to 1.2100 area would likely be seen in the coming days. Below this level would aim the bullish trend line on the 4-hour chart. Near term resistance levels are at 1.2250 and 1.2323, only break above these levels could trigger another rise towards 1.2400.

EURUSD 4-hour chart