EURUSD Weekly Analysis - August 28, 2016

Long Term Forex Analysis | by ForexCycle.com | Sunday, 28 August 2016 08:13 UTC
EURUSD stays in a upward price channel on daily chart and remains in uptrend from 1.0911. Near term support is at 1.1150, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.2000 area. On the downside, a breakdown below 1.1150 support will indicate that lengthier sideways movement in a range between 1.0462 (Mar 13, 2015 low) and 1.1713 (Aug 24, 2015 high) is underway, then the following downward movement could bring price to 1.0600 zone.

eurusd chart

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