EURUSD Daily Analysis – January 15, 2020

EURUSD remains in the downtrend from 1.1239. As long as the price is in the bearish price channel on the 4-hour chart, the bounce from 1.1085 could be treated as consolidation for the downtrend, and further decline to 1.1000 area is still possible after the consolidation. However, a clear break above the channel resistance would indicate that the downside movement had completed at 1.1085 already, then another rise towards 1.1250 could be seen.

EURUSD 4-hour chart