EURUSD Daily Analysis – October 27, 2016

EURUSD stays in the downward price channel on 4-hour chart and remains in downtrend from 1.1279. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.0700 area. On the upside, a clear break above the channel resistance will indicate that the downtrend had completed at 1.0851 already, then the following upward movement could bring price to 1.1400 zone.

eurusd chart