EURUSD Daily Analysis – October 17, 2017

EURUSD is facing 1.1780 support, a breakdown below this level will indicate that the short term uptrend from 1.1669 had completed at 1.1879 already, then the following downtrend could bring price back to test 1.1662 key support. On the upside, as long as the price is above 1.1780, the fall from 1.1879 would possibly be consolidation of the uptrend from 1.1669, another rise towards 1.2029 resistance is still possible after the consolidation. Near term resistance is at 1.1825, followed by 1.1879, above these levels could signal resumption of the uptrend.

EURUSD 4-hour chart