EURUSD Daily Analysis – April 27, 2020

EURUSD stays in a bearish price channel on the 4-hour chart and remains in the downtrend from 1.0990. As long as the channel resistance holds, the bounce from 1.0727 could be treated as consolidation for the downtrend and further decline to 1.0650 area is possible after the consolidation. On the upside, a breakout of the channel resistance would indicate that the downside movement had completed at 1.0727 already, then another rise towards 1.1000 could be seen.

EURUSD 4-hour chart