EURUSD Daily Analysis – February 5, 2018

EURUSD failed to break above 1.2537 resistance and stayed in the trading range between 1.2335 and 1.2537. As long as 1.2335 support holds, the price action in the range could be treated as consolidation of the uptrend from 1.1717 (Dec 12, 2017 low), and another rise towards 1.2700 is still possible after the consolidation. On the downside, a breakdown below 1.2335 support will suggest that the uptrend had completed at 1.2537 already, then the pair would find next support at 1.2165.

EURUSD 4-hour chart