EURUSD Daily Analysis – November 14, 2014

EURUSD is testing the resistance of the downward price channel on 4-hour chart. As long as the channel resistance holds, the rise from 1.2358 could be treated as consolidation of the downtrend from 1.2867, another fall to 1.2200 area is still possible. Key resistance is at 1.2508, only break above this level will signal completion of the downtrend.

eurusd chart