EURUSD Daily Analysis – October 8, 2018

EURUSD stays in a bearish price channel on the 4-hour chart and remains in the downtrend from 1.1815. As long as the price is in the channel, the bounce from 1.1463 could be treated as consolidation of the downtrend and further decline to 1.1400 area is still possible after the consolidation. Key resistance is at 1.1593, only a break of this level could signal completion of the downtrend.

EURUSD 4-hour chart