EURUSD Daily Analysis – August 16, 2018

EURUSD remains in the downtrend from 1.1746, the bounce from 1.1301 is likely consolidation for the downtrend. As long as 1.1432 resistance holds, the downtrend could be expected to resume and a breakdown below 1.1301 support could trigger further downside movement towards 1.1200. Only a break of 1.1432 resistance could bring the price back into 1.1500 zone.

EURUSD 4-hour chart