EURUSD Daily Analysis – October 9, 2018

EURUSD extended its downside movement from 1.1815 to as low as 1.1460. As long as the price is in the bearish price channel on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.1400 area. Key resistance is now at 1.1550, only a break of this level could signal completion of the downtrend.

EURUSD 4-hour chart