update on the EURUSD

17 gen 2020

as we can see major support levels and trend lines are being tested by the EURUSD, my analysis is if price closes below the 1.10857 then the downtrend will continue further to the next level of support. if the 4 hourly candle close above 1.10857 then we could potentially see a retracement back to the previous resistance zone. the fundamental side of things, USD has had some negative data so that could potentially cause this trend to continue bearish.