EURUSD Weekly Analysis – February 4, 2018

EURUSD remains in the uptrend from 1.1554, the fall from 1.2537 is likely consolidation of the uptrend. As long as the price is above the bullish trend line on the daily chart, the uptrend could be expected to continue and next target would be at 1.2700 area. On the downside, a breakdown below 1.2334 support could bring price back towards the trend line on the daily chart. Only a clear break below the trend line support could signal completion of the uptrend.

EURUSD daily chart