EURUSD Daily Analysis – November 19, 2014

EURUSD stays above the rising trend line on 4-hour chart, and remains in uptrend from 1.2358, the fall from 1.2577 would possibly be consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.2600 – 1.2650 area. On the downside, a clear break below the trend line support will indicate that the uptrend had completed at 1.2577 already, then the following downward movement could bring price to 1.2000 area.

eurusd chart