EURUSD - Technical Analysis: Monday, 17/08/2015 05:31 GMT

The EURUSD moves within sideways range at the recent trading to draw negative technical formation that might push the price to retest the previously breached resistance of the descending channel before resuming the rise, and the suggested scenario is show on image.

The exponential moving averages 50 and 100 continue to support the expected bullish trend in general, besides that stochastic is clearly positive on the four hours’ chart.