EURUSD Daily Analysis – January 14, 2020

EURUSD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 1.1239. As long as the channel resistance holds, the bounce from 1.1085 could be treated as consolidation for the downtrend, and further decline to 1.1000 is still possible after the consolidation. On the upside, a breakout of the channel resistance would confirm that the downside movement had completed at 1.1085 already, then another rise towards 1.1250 could be seen.

EURUSD 4-hour chart