EURUSD Daily Analysis – February 2, 2018

EURUSD is facing 1.2537 resistance. A breakout of this level will indicate that the uptrend from 1.1717 (Dec 12, 2017 low) has resumed, then further rise towards 1.2700 is possible. Near term support is at 1.2440. A breakdown below this level could bring price back to test 1.2335 support. Below here will indicate that the uptrend had completed at 1.2537 already, then deeper decline towards 1.2165 could be seen.

EURUSD 4-hour chart