EURUSD Daily Analysis – January 17, 2020

EURUSD stays in a rising price channel on the 4-hour chart and remains in the uptrend from 1.1085. As long as the channel support holds, the pullback from 1.1172 could be treated as consolidation for the uptrend and further rise to 1.1200 area is still possible after the consolidation. On the downside, a breakdown below the channel support would indicate that the upside movement had completed at 1.1172 already, then another fall towards 1.1050 could be seen.

EURUSD 4-hour chart