EURUSD Daily Analysis – Monday, August 3

EURUSD is in consolidation for the uptrend from 1.1168. Range trading between 1.1650 and 1.1908 would likely be seen in a couple of days.

As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to resume, and a further rise to the 1.2000 area is still possible after the consolidation.

On the downside, a breakdown below the trend line support would indicate that the upside movement had completed at 1.1908 already, then the pair would find next support level at around 1.1450.

EURUSD 4-hour chart

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