EURUSD Weekly Analysis – August 23, 2020

EURUSD moved sideways in a trading range between 1.1695 and 1.1965. As long as the price is above the rising trend line on the daily chart, the sideways movement could be treated as consolidation for the uptrend from 1.0635, and further rise to 1.2200 area is still possible. Only a breakdown below the trend line support could signal completion of the uptrend.

EURUSD daily chart