EURUSD Daily Analysis – August 23, 2019

EURUSD moved sideways in a narrow range between 1.1063 and 1.1113. As long as 1.1113 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.1249, deeper decline to 1.1026 support is still possible after the consolidation. Only break above 1.1113 resistance could signal completion of the downtrend.