EURUSD Daily Analysis – October 10, 2018

EURUSD broke above the bearish price channel on the 4-hour chart. Further rally to test 1.1550 resistance is possible, a breakout of this level would indicate that the downside movement from 1.1815 had completed at 1.1432 already, then the pair would find next resistance level at 1.1600. On the downside, as long as 1.1550 resistance holds, the bounce from 1.1432 would possibly be consolidation for the downtrend and one more fall towards 1.1350 is still possible.

EURUSD 4-hour chart