EURUSD Daily Analysis – November 21, 2014

EURUSD remains in uptrend from 1.2358, the fall from 1.2599 could be treated as consolidation of the downtrend. Support is located at the rising trend line on 4-hour chart. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.2650 area. On the other side, a clear break below the trend line support will indicate that the uptrend from 1.2358 had completed at 1.2599 already, then the following downward movement could bring price to 1.2000 area.

eurusd chart