EURUSD Weekly Analysis – January 28, 2018

EURUSD’s upside movement from 1.1554 extended to as high as 1.2537. Further rise is still possible and next target would be at 1.2700 area. Near term support is now at 1.2350. Only a breakdown below this level will indicate that consolidation for the uptrend is underway, then the pair would find next support level at 1.2300. Below here could trigger further downside movement towards the bullish trend line on the daily chart.

EURUSD daily chart