EURUSD Daily Analysis – January 28, 2015

EURUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.2569. As long as the trend line resistance holds, the rise from 1.1097 could be treated as consolidation of the downtrend, and another fall towards 1.0500 is still possible after consolidation. Only a clear break above the trend line resistance could signal completion of the downtrend.

eurusd chart