EURUSD Daily Analysis – November 4, 2016

EURUSD remains in uptrend from 1.0851, the fall from 1.1126 is likely consolidation of the uptrend. Near term support is at the bottom of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.1200 area. Key support is at 1.1030, only break below this level will indicate that the uptrend had completed at 1.1126 already, then deeper decline to 1.0950 area could be seen.

eurusd chart