EURUSD Daily Analysis – August 9, 2019

EURUSD continued its sideways movement in a trading range between 1.1167 and 1.1249. The sideways movement is likely consolidation for the uptrend from 1.1026. As long as 1.1167 support holds, the upside movement could be expected to resume, further rise to 1.1300 area is still possible after the consolidation. On the other side, a breakdown below 1.1167 support would confirm that the upside movement had completed at 1.1249 already, then deeper decline towards 1.1100 could be seen.

EURUSD 4-hour chart