EURUSD Daily Analysis – March 1, 2017

EURUSD is facing he resistance of the downward price channel on 4-hours chart. As long as the pair stays in the channel, the price action from 1.0521 could be treated as consolidation of the downtrend from 1.0828, and further decline to 1.0400 area is still possible after consolidation. Key resistance is at 1.0679, only break above this level will indicate that the downtrend had completed at 1.0493 already, then the following upward movement could bring price to 1.0900 zone.

eurusd chart