EURUSD Daily Analysis – August 2, 2017

EURUSD stays in a bullish price channel on its 4-hour chart and remains in the uptrend from 1.1312. As long as the price is in the channel, the uptrend could be expected to continue and next target would be at 1.2000 area. On the downside, the price had reached the top of the channel, pullback to the bottom trend line would likely be seen in a couple of days. A clear break below the bottom trend line could bring price to test 1.1613 support, below this level will confirm that the uptrend had completed at 1.1845 already, then deeper decline to 1.1500 area could be seen.

EURUSD 4-hour chart