EURUSD Daily Analysis – October 30, 2018

EURUSD remains in the downtrend from 1.1622. As long as the price is below the bearish trend line on the 4-hour chart, the bounce from 1.1335 could be treated as consolidation for the downtrend. Further decline is still possible after the consolidation and next target would be at 1.1300 area. On the upside, a breakout of the trend line resistance would indicate that the downside movement had completed at 1.1335 already, then the pair would find next resistance level at around 1.1520.

EURUSD 4-hour chart