empty
 
 
04.08.2020 10:15 AM
Technical analysis of EUR/USD for August 04, 2020

This image is no longer relevant

Overview:

Yesterday, the EUR/USD pair reached a new minimum at the price of 1.1768. So, today the price may reach one more minimum around the spot of 1.1725, which coincides with the ratio of 50% Fibonacci Expansion. Today, the EUR/USD pair is challenging the psychological resistance at 1.1768. So, the resistance is seen at the level of 1.1828 in the one-hour time frame. We expect the EUR/USD pair to continues moving in a downtrend below the level of 1.1828 towards the first target at 1.1682, while major resistance is found at 1.1909 (100% Fibonacci). On the downside, a clear break at the level of 1.1768 could trigger further bearish pressure testing 1.1682, which represents the major support today.

Forecast:

As a result, it is gainful to sell below this price of 1.1828 with targets at 1.1725 and 1.1682. However, the bullish trend is still expected for the upcoming days as long as the price is above 1.1628.

Daily Technical level:

  • Major resistance: 1.1909
  • Minor resistance: 1.1828
  • Intraday pivot point: 1.1768
  • Minor support: 1.1725
  • Major support: 1.1682
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback