EURUSD Daily Analysis – March 13, 2020

EURUSD extended its downside movement from 1.1496 to as low as 1.1055, breaking below 1.1095 support. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.1000 area. On the upside, a breakout of the trend line resistance would indicate that the downtrend had completed at 1.1055 already, then another rise towards 1.1500 could be seen.

EURUSD 4-hour chart