EURUSD Daily Analysis – February 5, 2019

EURUSD is facing 1.1406 support, a breakdown below this level would indicate that the upside movement from 1.1289 had completed at 1.1514 already, then deeper decline to 1.1300 area could be seen. On the upside, as long as 1.1406 support holds, the fall from 1.1514 could be treated as consolidation for the uptrend from 1.1289, another rise towards 1.1600 could be expected after the consolidation.

EURUSD 4-hour chart