EURUSD Daily Analysis – December 29, 2017

EURUSD extended its upside movement to as high as 1.1959, facing the resistance at 1.1961. As long as the price is above the bullish trend line on the 4-hour chart, the upside movement could be expected to continue and a breakout of 1.1961 resistance could take price to next resistance level at 1.2020 area, followed by 1.2092 (Sep 8 high). On the downside, a clear break below the trend line would suggest that the uptrend is complete, then the pair would find next support level at 1.1817. Below this level could trigger further downside move towards 1.1712 support.

EURUSD 4-hour chart