EURUSD Daily Analysis – January 27, 2015

EURUSD remains in downtrend from 1.2569, the rise from 1.1097 is likely consolidation of the downtrend. Near term resistance is at 1.1350, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.0800 area. Key resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.

eurusd chart