EURUSD Daily Analysis – August 24, 2017

EURUSD continued its sideways movement in a trading range between 1.1662 and 1.1909. As long as 1.1662 support holds, the sideways movement could be treated as consolidation of the uptrend from 1.0569 (Apr 10 low), and further rise towards 1.2000 could be expected after the consolidation. On the downside, a breakdown below 1.1662 support will indicate lengthier correction for the uptrend is underway, then the pair will find support at the bottom support trend line of the price channel on its daily chart.

EURUSD 4-hour chart