EURUSD Daily Analysis – May 5, 2020

EURUSD is facing the support of the rising trend line on the 4-hour chart. As long as the trend line support holds, the pullback from 1.1018 could be treated as consolidation for the uptrend from 1.0727 and another rise towards 1.1100 could be expected after the consolidation. On the downside, a breakdown below the trend line support would indicate that the upside movement had completed at 1.1018 already, then the following downside movement could take the price to 1.0750 zone.

EURUSD 4-hour chart