EURUSD Daily Analysis – September 8, 2014

EURUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.3411. Further decline could be expected after a minor consolidation, and next target would be at 1.2800 area. Near term resistance is at 1.3010, and the key resistance is located at the trend line, only a clear break above the trend line resistance will signal completion of the downtrend.

eurusd chart