EURUSD’s bullish movement from 1.1312 extended to as high as 1.1845. Near term support is at the bottom trend line of the price channel on the 4-hour chart. As long as the price is in the channel, the uptrend could be expected to continue and next target would be at 1.2000. On the downside, a clear break below the channel support could bring price back to test 1.1613 support, below this level will indicate that the uptrend is complete, then the pair will find support at around 1.1500.

eurusd 4-hour chart

Source: http://www.forexcycle.com/short-term-forex-analysis/113365-eurusd-daily-analysis-august-1-2017.html

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.