EURUSD Daily Analysis – February 9, 2018

EURUSD extended its downside movement from 1.2523 to as low as 1.2212. As long as the price is below the trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2165. On the upside, a breakout of the trend line resistance would suggest that the downside movement is complete, then another rise to test 1.2537 resistance could be seen.

EURUSD 4-hour chart