EURUSD Weekly Analysis – February 23, 2020

EURUSD stays in a bearish price channel on the daily chart and remains in the downtrend from 1.1239. As long as the channel resistance holds, the downside movement could be expected to continue and next target would be at 1.0600 area. On the upside, a breakout of the channel resistance would indicate that the downside movement had completed at 1.0778 already, then another rise towards 1.1100 could be seen.

EURUSD daily chart