EURUSD Daily Analysis – January 31, 2020

EURUSD is facing the resistance of the falling trend line on the 4-hour chart. As long as the trend line resistance holds, the bounce from 1.0992 could be treated as consolidation for the downtrend from 1.1172, another fall towards 1.0950 is possible after the consolidation. On the upside, a breakout of the trend line resistance would indicate that the downtrend had completed at 1.0992 already, then the pair would find resistance at around 1.1100.

EURUSD 4-hour chart