EURUSD Daily Analysis – July 9, 2018

EURUSD extended its upside movement from 1.1527 to as high as 1.1767, breaking above 1.1720 resistance. Support is located at the rising trend line on the 4-hour chart. As long as the trend line support holds, the upside movement could be expected to continue and next target would be at 1.1800 area. On the downside, a breakdown below the trend line support would indicate that the upside move is complete, then another fall towards 1.1500 could be seen.

EURUSD 4-hour chart