EURUSD Weekly Analysis – January 13, 2019

EURUSD broke above 1.1500 resistance, suggesting that lengthier consolidation for the downtrend from 1.2555 (Feb 16, 2018 high) is underway. Further rally is still possible in a couple of weeks and the target would be at upper line of the price channel on the daily chart now at around 1.1700. Near term support is at 1.1400, a breakdown below this level could bring the price back towards 1.1350.

EURUSD daily chart