EURUSD Daily Analysis – December 9, 2014

EURUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.2599. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.2000 area. On the upside, a clear break above the trend line resistance will indicate that the downtrend had completed at 1.2247 already, then further rise to 1.2700 area could be seen.

eurusd chart