EURUSD Daily Analysis – May 23, 2019

EURUSD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 1.1263. As long as the channel resistance holds, the bounce from 1.1142 could be treated as consolidation for the downtrend, further decline towards 1.1110 support is still possible after the consolidation. Key resistance is at 1.1188, only break above this level could signal completion of the downtrend.

EURUSD 4-hour chart