EURUSD Daily Analysis – November 8, 2017

EURUSD extended its downside movement from 1.1879 to as low as 1.1554, breaking below 1.1574 support, suggesting that the downtrend has resumed. Further decline would likely be seen in a couple of days and next target would be at 1.1400 area. Near term resistance is at 1.1625, only break above this level could bring price back to next resistance level at 1.1690. Above here would trigger further upside move towards the bearish trend line on the 4-hour chart.

EURUSD 4-hour chart