EURUSD Daily Analysis – October 16, 2019

EURUSD failed to break below the bottom of the price channel on the 4-hour chart, suggesting that the pair remains in the uptrend from 1.0879. Further rise could be expected in the coming days and next target would be at 1.1100 area. Key support is at 1.0991, only a breakdown below this level would indicate that the upside movement had completed at 1.1062 already, then the following downside move could bring the price back to 1.0900 zone.

EURUSD 4-hour chart