EURUSD Daily Analysis – October 11, 2018

EURUSD is facing 1.1550 resistance, 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 resistance at around 1.1600. However, as long as 1.1550 resistance holds, the bounce from 1.1432 could be treated as consolidation of the downtrend from 1.1815 and another fall towards 1.1350 is still possible after the consolidation.

EURUSD 4-hour chart