EURUSD Daily Analysis – October 16, 2017

EURUSD remains in short term uptrend from 1.1669, the fall from 1.1879 is likely consolidation of the uptrend. Near term support is at 1.1780, as long as the price is above this level, the uptrend could be expected to resume and a breakthrough 1.1879 resistance could trigger another rise towards next resistance level at 1.2029. On the downside, a breakdown below 1.1780 support will indicate that the uptrend had completed at 1.1879 already, then another fall to retest 1.1662 key support could be seen.

EURUSD 4-hour chart