EURUSD Daily Analysis – April 2, 2015

EURUSD stays in the downward price channel on 4-hour chart, and remains in the short term downtrend from 1.1052. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.0500 – 1.0550 area. However, a clear break above the channel resistance will indicate that the downtrend had completed at 1.0713 already, then further rise to test 1.1052 resistance could be seen.

eurusd chart