EURUSD Daily Analysis – September 7, 2016

EURUSD broke above 1.1251 resistance, indicating that the downward movement from 1.1366 had completed at 1.1123 already. Further rise to test 1.1366 resistance would likely be seen over the next several days, a break of this level will signal resumption of the longer term uptrend from 1.0911 (Jun 24 low), then the following upward movement could bring price to 1.1500 area.

eurusd chart