EURUSD Daily Analysis – November 18, 2016

EURUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.1299. As long as the trend line resistance holds, the downtrend could be expected to continue, and further decline to test 1.0462 (Mar 13, 2015 low) support is possible. Only a clear break above the trend line resistance could signal completion of the downtrend.

eurusd chart