EURUSD Weekly Analysis – August 25, 2019

EURUSD failed to break below 1.1026 support and stays in a trading range between 1.1026 and 1.1249. As long as 1.1249 resistance holds, the price action in the range could be treated as consolidation for the downtrend from 1.1570, further decline to 1.0900 area is still possible after the consolidation. On the upside, a breakout of 1.1249 resistance would indicate that the downside movement had completed at 1.1026 already, then further rise towards 1.1400 could be seen.

EURUSD daily chart