EURUSD Daily Analysis – September 26, 2014

EURUSD’s downward movement from 1.3411 extended to as low as 1.2696. Resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.2600 area. On the upside, a clear break above the trend line resistance will indicate that the downtrend had completed at 1.2696 already, then further rise to 1.3000 area could be seen.

eurusd chart