EURUSD Daily Analysis – June 14, 2018

EURUSD moved sideways in a trading range between 1.1726 and 1.1840 after breaking below the bottom support trend line of the price channel on the 4-hour chart, suggesting that the pair remains in the uptrend from 1.1510. As long as 1.1726 support holds, the price action in the range could be treated as consolidation of the uptrend, and one more rise towards 1.1900 is still possible after the consolidation. On the downside, a breakdown below 1.1726 support would confirm that the upside movement had completed at 1.1840 already, then further decline towards 1.1550 could be seen.

EURUSD 4-hour chart