EURUSD Daily Analysis – September 30, 2019

EURUSD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 1.1109. As long as the channel resistance holds, the bounce from 1.0904 could be treated as consolidation for the downtrend, further decline to 1.0800 area is possible after the consolidation. On the upside, a breakout of the channel resistance would indicate that the downside movement had completed at 1.0904 already, then another rise towards 1.1100 could be seen.

EURUSD 4-hour chart