EURUSD Daily Analysis – August 11, 2017

EURUSD broke above the falling trend line on its 4-hour chart, suggesting that the short term downtrend from 1.1909 had completed at 1.1689 already. Further rally could be expected in a couple of days and the target would be at 1.1850 area. On the downside, as long as 1.1909 resistance holds, another fall to test the bottom support trend line of the price channel on its daily chart is still possible.

EURUSD 4-hour chart