EURUSD Daily Analysis – August 14, 2018

EURUSD remains in the downtrend from 1.1746, the bounce from 1.1365 is likely consolidation for the downtrend. Further decline is possible after the consolidation and a breakdown below 1.1365 support could take the price to 1.1300 area. Resistance is at the top trend line of the price channel on the 4-hour chart, only a clear break above the channel resistance could signal completion of the downtrend.

EURUSD 4-hour chart