EURUSD Daily Analysis – May 31, 2018

EURUSD is facing the resistance of the top trend line of the price channel on the 4-hour chart. A breakout of the channel resistance could bring the price back to test next resistance level at 1.1750. Above this level would aim 1.1800 area. On the downside, as long as the channel resistance holds, the bounce from 1.1510 would possibly be consolidation for the downtrend from 1.1996 and another fall towards 1.1400 is still possible after the consolidation.

EURUSD 4-hour chart