EURUSD - Technical Analysis: Monday, 31/08/2015 07:44 GMT

The EURUSD bounced clearly downwards after touching the ascending channel’s resistance that its signs appear on chart, and by closing gradually to this channel’s support, we are waiting a bullish rebound to resume the main bullish trend.

So, the main bullish track will be expected, might be preceded by some temporary decline and a potential visit to the ascending channel’s support maximum at 1.0900 before turning back to rise.

The exponential moving averages 50 and 100 attempt to stop the current negative pressure, and the technical indicators offer positive signals that reinforce the chances of turning back to rise soon, being aware that breaking 1.1115 will confirm targeting the channel’s support line before resuming the bullish bias.