EURUSD Daily Analysis – February 8, 2017

EURUSD broke below the bottom of the price channel on 4-hour chart. However, as long as the pair is above 1.0620 support, the fall from 1.0828 could be treated as consolidation of the uptrend from 1.0340 and further rise to 1.0900 area is still possible after consolidation. On the downside, a breakdown below 1.0620 support will indicate that the uptrend had completed at 1.0828 already, then the following downward movement could bring price to 1.0000 zone.

eurusd chart