EURUSD Daily Analysis – July 20, 2018

EURUSD stays below a falling trend line on its 4-hour chart and remains in the downtrend from 1.1790. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 1.1500 area. On the upside, a break of the trend line resistance could indicate that the downtrend had completed at 1.1575 already, then further rise towards 1.1850 could be seen.

EURUSD 4-hour chart