EURUSD Daily Analysis – August 2, 2018

EURUSD moved sideways in a triangle pattern on the 4-hour chart. The triangle pattern is likely consolidation for the downtrend from 1.2555 (Feb 16 high), a breakdown below the bottom support trend line of the triangle pattern could trigger further downside movement towards 1.1508 previous low, followed by 1.1300 area. Key resistance is at 1.1750, only a breakout of this level could take the price into 1.1900 zone.

EURUSD 4-hour chart