EURUSD Daily Analysis – August 3, 2017

EURUSD’s bullish movement from 1.1312 extended to as high as 1.1908. As long as the pair is in the rising price channel on its 4-hour chart, the bullish move could be expected to continue and next target would be at 1.2000 area. On the downside, a clear break below the bottom support trend line of the channel could bring price back to test 1.1650 key support, only a breakdown below this level could signal completion of the uptrend.

EURUSD 4-hour chart