EURUSD Weekly Analysis – January 27, 2019

EURUSD broke below the bottom support trend line of the price channel on the daily chart, suggesting that the downside movement from 1.2555 has resumed. Further decline would likely be seen in a couple of weeks and next target would be at 1.1000 area. Resistance is at 1.1480, only break above this level could trigger another rise towards 1.1700.

EURUSD 4-hour chart