EURUSD Daily Analysis – March 2, 2017

EURUSD failed to break above the top of the price channel on 4-hour chart, indicating that the pair remains in downtrend from 1.0828, and the price action from 1.0521 could be treated as consolidation of the downtrend. Further decline could be expected after consolidation, and next target would be at 1.0400 area. Key resistance is at 1.0679, only break above this level could signal completion of the downtrend.

eurusd chart