EURUSD Daily Analysis – January 30, 2020

EURUSD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 1.1172. As long as the trend line resistance holds, the bounce from 1.0992 could be treated as consolidation for the downtrend, and further decline to 1.0950 area is still possible after the consolidation. On the upside, a breakout of the trend line resistance would indicate that the downside movement had completed at 1.0992 already, then the pair would find resistance at around 1.1100.

EURUSD 4-hour chart