Riding short-term downtrend channel.
(By Yann Quelenn)
• EUR/USD bearish pressures are on. Hourly
resistance can be found at 1.1910 (02/08/2017
high) while hourly support given at 1.1689
(09/08/2017 high) has been broken. Stronger
support lies at 1.1613 (26/07/2017 low). Expected
to show further short-term selling pressures.
• In the longer term, the momentum is now
turning largely positive. We favour a continued
bullish bias. Key resistance holding at 1.1871
(24/08/2015 high) has been broken while strong
support lies at 1.0341 (03/01/2017 low).