EURUSD Daily Analysis – January 30, 2015

EURUSD is facing the resistance of the downward trend line on 4-hour chart, a clear break above the trend line resistance will indicate that the downtrend from 1.2569 had completed at 1.1097 already, then further rally to 1.1600 area could be seen. However, as long as the trend line resistance holds the downtrend could be expected to continue, and next target would be at 1.0700 area.

eurusd chart