EURUSD Daily Analysis – August 24, 2018

EURUSD is facing the support of the bullish trend line on the 4-hour chart. As long as the trend line support holds, the fall from 1.1622 could be treated as consolidation for the uptrend from 1.1301, another rise towards 1.1800 is still possible after the consolidation. On the downside, a clear break below the trend line support would indicate that the upside movement had completed at 1.1622 already, then deeper decline to 1.1450 area could be seen.

EURUSD 4-hour chart