EURUSD Daily Analysis – May 15, 2019

EURUSD is testing that support of the rising trend line on the 4-hour chart. A clear break below the trend line support would indicate that the upside movement from 1.1135 is complete, then the downside movement could bring the price back to 1.1150. However, as long as the trend line support holds, the fall from 1.1263 could be treated as consolidation for the uptrend, one more rise towards 1.1300 is still possible after the consolidation.

EURUSD 4-hour chart