EURUSD - Technical Analysis: Monday, 07/08/2017 04:22 GMT

The EURUSD pair declined clearly after touching the ascending channel's resistance that appears on the chart below, accompanied by releasing the positive US economic data, to start some bearish correction, but we notice the price return to rise and achieve gains on the intraday basis, indicating that the negative pressure stopped and the price heads to continue the main bullish trend again.

Thus, we expect the domination of the bullish trend in the coming period, and the waited targets begin at the channel's resistance at 1.1930 then 1.2000, noting that failing to settle above 1.1783 will push the price to visit 1.1704 and might reach to 1.1640 on the near term basis.