EURUSD Daily Analysis – April 9, 2018

EURUSD stays in a falling price channel on its 4-hour chart and remains in the downtrend from 1.2476. As long as the price is in the channel, the bounce from 1.2214 could be treated as consolidation for the downtrend and another fall to test 1.2155 support could be expected after the consolidation. On the upside, a breakout of the channel resistance could bring price back towards 1.2345. Above this level would confirm that the downside movement had completed at 1.2214 already, then another rise towards 1.2500 could be seen.

EURUSD 4-hour chart