EURUSD Daily Analysis – November 7, 2016

EURUSD broke below the upward price channel on 4-hour chart, indicating that consolidation of the uptrend is underway. Range trading between 1.1000 and 1.1141 would likely be seen over the next several days. As long as 1.1000 support holds, the uptrend could be expected to resume, and another rise towards 1.1300 could be seen after consolidation.

eurusd chart