EURUSD Weekly Analysis – January 7, 2018

EURUSD is now facing 1.2092 resistance. A breakout of this level will indicate that the uptrend from 1.0340 (Jan 3 low) has resumed, then next target would be at 1.2500 area. On the downside, a clear break below the rising trend line on the daily chart could bring price back to next support level at 1.1713. Below this level could trigger further downside movement towards 1.1554 support.

EURUSD daily chart