EURUSD Daily Analysis – January 24, 2014

EURUSD is facing 1.3699 resistance, a break above this level will indicate that the downtrend from 1.3892 is complete, then the following upward movements could bring price to 1.4500 area. On the other side, as long as 1.3699 resistance holds, the rise from 1.3507 would possibly be consolidation of the downtrend from 1.3892, one more fall towards 1.3400 is still possible.

eurusd chart