EURUSD Daily Analysis – February 21, 2014

EURUSD stays in a upward price channel on 4-hour chart, and remains in uptrend from 1.3477, the fall from 1.3773 is likely consolidation of the uptrend. As long as the channel support holds, the uptrend could be expected to resume, and next target would be at 1.3850 area. On the downside, a clear break below the channel support will indicate that the upward movement from 1.3477 had completed at 1.3773 already, then the following downward movement could bring price back to 1.3400 zone.

eurusd chart