EURUSD Daily Analysis – February 1, 2018

EURUSD moved sideways in a trading range between 1.2335 and 1.2537. The sideways movement is likely consolidation of the uptrend from 1.1717. Another rise could be expected after the consolidation and a breakout of 1.2537 resistance would signal resumption of the uptrend. On the downside, a breakdown below 1.2335 support will indicate that the uptrend from 1.1717 had completed at 1.2537 already, then the pair would find next support level at 1.2165.

EURUSD 4-hour chart