(21 AUGUST 2017)EUR / USD:Riding short-term downtrend channel.

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).