EURUSD Daily Analysis – December 30, 2014

EURUSD’s downward movement from 1.2569 extended to as low as 1.2132. Near term resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.2000 area. Key resistance is now at 1.2220, only break above this level could signal completion of the downtrend.

eurusd chart