EURUSD Daily Analysis – October 26, 2017

EURUSD continued its sideways movement in a trading range between 1.1725 and 1.1879. The sideways movement is likely consolidation of the short term uptrend from 1.1669. Another rise could be expected after the consolidation and a breakout of 1.1879 resistance could signal resumption of the uptrend, then next target would be at 1.2029. Only a breakdown below 1.1725 support could trigger another fall towards the resistance-turned-support trend line on the weekly chart now at around 1.1400.

EURUSD 4-hour chart