EURUSD Daily Analysis – August 25, 2017

EURUSD moved sideways in a trading range between 1.1662 and 1.1909. The sideways movement is likely consolidation of the uptrend from 1.0569 (Apr 10 low). As long as 1.1662 support holds, the uptrend could be expected to resume and further rise towards 1.2000 is possible. On the downside, a breakdown below 1.1662 support will indicate that lengthier correction for the uptrend is underway, then deeper decline towards the bottom support trend line of the price channel on its daily chart to compete the correction could be seen.

EURUSD 4-hour chart