EURUSD Daily Analysis – October 29, 2018

EURUSD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 1.1622. As long as the trend line resistance holds, the bounce from 1.1335 could be treated as consolidation of the downtrend and further decline towards 1.1300 is still possible after the consolidation. Only a breakout of trend line resistance could signal completion of the downtrend.

EURUSD 4-hour chart