EURUSD Daily Analysis – December 28, 2017

EURUSD broke above 1.1901 resistance, indicating that the short term uptrend from 1.1717 has resumed. Near term support is at the rising trend line on the 4-hour chart. As long as the trend line support holds, further rise could be expected in the coming days and next target would be at 1.1961. On the downside, a clear break below the trend line support could bring price back to next support level at 1.1817. Only a breakdown below this level will confirm that the short term uptrend is complete, then the following downside movement could take price towards 1.1712 support.

EURUSD 4-hour chart