EURUSD Daily Analysis – December 1, 2017

EURUSD rebounded from 1.1809 after touching the bullish trend line on the 4-hour chart, suggesting that the pair remains in the uptrend from 1.1554. Another rise could be expected after consolidation and a breakout of 1.1961 resistance could take price towards 1.2092 (Sep 8 high). On the downside, a clear break below the trend line support could bring price back to next support level at 1.1809. Below this level will indicate that the uptrend had completed at 1.1961 already, then the pair would find next support at 1.1712. Below here could trigger further downside movement towards 1.1554, followed by the resistance-turned-support trend line on the weekly chart now at around 1.1390.

EURUSD 4-hour chart