EURUSD Daily Analysis – January 16, 2020

EURUSD broke above the top of the price channel on the 4-hour chart, suggesting that the downside movement from 1.1239 had completed at 1.1085 already. Further rally would likely be seen and next target would be at 1.1200 area. Near term support is at 1.1110, a breakdown below this level could trigger another fall towards 1.1050.

EURUSD 4-hour chart