EURUSD Daily Analysis – January 18, 2019

EURUSD remains in the downtrend from 1.1570, the bounce from 1.1370 is likely consolidation for the downtrend. Further decline is still possible after the consolidation and next target would be at 1.1300 area. Near term resistance is at 1.1425, a break of this level would indicate that the downside movement had completed at 1.1370 already, then another rise towards 1.1500 could be seen.

EURUSD 4-hour chart