EURUSD Daily Analysis – October 21, 2014

EURUSD stays above the upward trend line on 4-hour chart, and remains in uptrend from 1.2500. As long as the trend line support holds, the fall from 1.2867 could be treated as consolidation of the uptrend. Another rise could be expected after consolidation, and next target would be at 1.2950 area. On the downside, a clear break below the trend line support will signal completion of the uptrend, then the following downward movement could bring price to 1.2000 area.

eurusd chart