EURUSD Daily Analysis – February 6, 2014

EURUSD’s rise from 1.3477 extended to as high as 1.3555. However, the rise is likely consolidation of the downtrend from 1.3739, another fall could be expected after consolidation, and next target would be at 1.3400 area. Resistance is at 1.3570, only break above this level could signal completion of the downtrend.

eurusd chart