EURUSD Daily Analysis – June 1, 2018

EURUSD broke above the falling price channel on its 4-hour chart, suggesting that the downside movement from 1.1996 had completed at 1.1510 already. Further rally would likely be seen and next target would be at 1.1800 area. On the downside, as long as 1.1800 resistance holds, the downside movement could be expected to resume and another fall towards 1.1400 is still possible.

EURUSD 4-hour chart