EURUSD Daily Analysis – May 30, 2018

EURUSD extended its downside movement from 1.1996 to as low as 1.1510. As long as the price is in the falling price channel on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.1400 area. Resistance is at the top trend line of the channel, only a clear break above the channel resistance could signal completion of the downtrend.

EURUSD 4-hour chart