EURUSD Daily Analysis – March 12, 2018

EURUSD is in short term downtrend from 1.2446. Further decline would likely be seen and next target would be at 1.2155 support. A breakdown below this level would confirm that the whole uptrend from 1.1554 (Nov 7, 2017 low) had completed at 1.2555 already, then the pair would find next support level at 1.1950. Near term resistance is at 1.2335, a break of this level would indicate that correction for the short term downtrend from 1.2446 is underway, then further rally to 1.2390 area could be seen.

EURUSD 4-hour chart