EURUSD Daily Analysis – August 8, 2017

EURUSD stays in a bullish price channel on its 4-hour chart, indicating that the pair 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. The key support is at 1.1728, only a breakdown below this level will suggest that the bullish movement had completed at 1.1909 already, then the following correction pullback could bring price back to the bottom support trend line of the price channel on its daily chart.

EURUSD 4-hour chart