EURUSD Weekly Analysis – September 24, 2017

EURUSD stays in a rising price channel on its daily chart and remains in the uptrend from 1.0569. As long as the price is in the channel, the sideways movement in a trading range between 1.1823 and 1.2092 could be treated as consolidation of the uptrend. Further rise could be expected after the consolidation and next target would be at 1.2165, followed by 1.2700. On the downside, a break through below the bottom support trend line of the channel could indicate that lengthier consolidation for the uptrend from 1.0340 is underway, then deeper decline towards 1.1662 key support could be seen. Below this level could signal completion of the whole upside movement from 1.0340.

EURUSD Daily Chart