EURUSD Bears Assault 1.17 Level As Dollar Gains Extend Further

EURUSD Price Analysis – August 10

EURUSD has halted its upward advancement in what appears to be much more than a correction as bears assault level 1.17. The euro currency is poised for a crucial week against the US dollar, following the significant correction from the region of 1.1900 on Friday.

Key Levels
Resistance Levels: 1.1980, 1.1909, 1.1852
Support Levels: 1.1750, 1.1709, 1.1685
EURUSD Long term Trend: Bullish
In the larger context, the downward trend from the level 1.2555 (high) has already been finalized at levels 1.0635. A level increase pattern of 1.0635 is seen as the third phase of the trend from the threshold of 1.0339 (low).

The EURUSD pair is only bullish while exchanging beyond level 1.1750, the main resistance is seen at levels 1,1852 and 1,1909. The EURUSD pair is only bearish while trading beneath level 1.1750, the main support is seen at levels 1.1709 and 1.1685.
EURUSD Short term Trend: Ranging
At the moment, the intraday bias in EURUSD holds steady. More growth may be seen as long as a support level of 1.1685 persists. On the upside, the 1.1909 level breach may reach and expand the larger rebound from 1.0635 levels to 161.8 percent from 1.0774 to 1.1422 levels at 1.2303 levels.

The level of 1.1750 is a crucial technical area to be guarded this week by EURUSD bulls for further upside advance. The firm breach of 1.1685 levels may well indicate short-term topping. Intraday bias toward 1.1422 resistance turned support level will be turned back to the downside.

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