EURUSD Daily Analysis – November 3, 2017

EURUSD’s bounce from 1.1574 extended to as high as 1.1687. Further rally is still possible and next target would be at the support-turned-resistance level of 1.1725. Breakthrough this level could trigger further upside movement towards the falling trend line on the 4-hour chart at around 1.1800. Near term support is at 1.1605, followed by 1.1574, only break below these levels could indicate that the downtrend from 1.1879 has resumed, then the following bearish movement could take price to 1.1400 zone.

EURUSD 4-hour chart