EURUSD Daily Analysis – January 29, 2018

EURUSD broke below the bullish price channel on its 4-hour chart, suggesting that lengthier consolidation for the uptrend from 1.1915 is underway. Near term support is at 1.2364, a breakdown below this level could take price to next support level at 1.2300. Below this level could trigger further downside movement to 1.2240 area. Near term resistance is at 1.2537, a breakout of this level will confirm that the uptrend has resumed, then next target would be at 1.2700 area.

EURUSD 4-hour chart