Monday, August 21, 2017
EUR/USD Remains Range-bound
That correction, however, does not appear to be over. I think that it is possible for the range to continue in the following days, since the economic calendar for this week seems rather devoid of news that could become a catalyst for major movements in either direction.
The closest support for the pair is around the 1.1700 level. A drop below that level and a breakout below the support trend line could lead the pair to 1.1600 – 1.1580.
A breakout above the resistance trend line would mean, I think, an acceleration of the move to the upside.