EURUSD Daily Analysis – January 24, 2019

EURUSD is facing the resistance of the falling trend line on the 4-hour chart. As long as the trend line resistance holds, the bounce from 1.1336 could be treated as consolidation for the downtrend from 1.1570, another fall to 1.1300 area is still possible after the consolidation. On the upside, a breakout of the trend line resistance could bring the price back to the key resistance level at 1.1425, above here could signal completion of the downtrend.

EURUSD 4-hour chart