EURUSD Daily Analysis – May 15, 2018

EURUSD extended its upside movement from 1.1822 to as high as 1.1996. As long as the price is in the rising channel on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.2100 area. On the downside, a breakdown below the bottom of the channel would suggesting that the upside movement had completed at 1.1996 already, then deeper decline to 1.1860 area could be seen.

EURUSD 4-hour chart