empty
 
 

07.08.201807:46 Forex Analysis & Reviews: Technical analysis of EUR/USD for August 07, 2018

Long-term review

Exchange Rates 07.08.2018 analysis

Overview:

The EUR/USD pair continues to move downwards from the level of 1.1639. Last week, the pair dropped from the level of 1.1639 (this level of 1.1639 coincides with the ratio of 32.8% Fibonacci) to the bottom around 1.1549.

Today, the first resistance level is seen at 1.1589 (the weekly pivot point) followed by 1.1639, while daily support 1 is found at 1.1508.

Also, the level of 1.1589 represents a weekly pivot point, for that it is acting as minor resistance this week.

Amid the previous events, the pair is still in a downtrend, because the EUR/USD pair is trading in a bearish trend from the new resistance line of 1.1589 towards the first support level at 1.1508 in order to test it.

If the pair succeeds to pass through the level of 1.1508, the market will indicate a bearish opportunity below the level of 1.1508 with the next traget at 1.1460 in the coming hours.

However, if a breakout happens at the resistance level of 1.1639, this scenario may be invalidated.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Mourad El Keddani,
分析专家
InstaForex集团 © 2007-2021
立即从分析师的建议受益
充值交易账户
开设交易账户

InstaForex分析评论将让您充分了解市场趋势! 作为InstaForex的客户,您将获得大量的免费服务以实现有效的交易。

现在无法通话?
提出您的问题,用 在线帮助.