EURUSD Daily Analysis – October 17, 2014

EURUSD stays above the upward trend line on 4-hour chart, and remains in uptrend from 1.2500, the fall from 1.2867 is likely consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.2950 area. Only a clear break below the trend line support will indicate that the uptrend had completed at 1.2867 already, then another fall towards 1.2200 could be seen.

eurusd chart