Technical Analysis EUR/USD 01 August

2019-08-01

Today’s technical analysis is on August 01, the EUR / USD pair is dominated by a bearish sentiment to complete the consolidation in the Asian session, at strong resistance levels of 1.10575 - 1.11000; therefore, it is advisable to wait for the breakdown of a strong support level, which can open the way to levels 1.10060 - 1.09570 within the London and New York Sessions.

Thus, the best opportunities for placing deals can be initiated before or during the London session from 1.10360 where the Fibonacci levels indicate. The MACD histogram is still located in the negative zone and already below its signal line, continues to decline rapidly and thereby gives a sell signal. Stochastic Oscillator is in the oversold zone and is generating a similar signal. In an alternative scenario, you should wait for the breakdown of the strong resistance level of 1.10680, then the levels of 1.11075 - 1.11580 will become the target of investors.

In fact, today's expected important economic news in particular can lead to significant volatility of key pairs, this can stimulate a significant movement to fluctuations during the London and New York sessions. This allows investors to take advantage of the Buy / Sell transactions from minimum / maximum levels throughout the day.

EUR / USD analysis

Current price: 1.10470

Resistance Level 1: 1.10575
Resistance Level 2: 1.10680
Resistance Level 3: 1.10785
Resistance Level 4: 1.11000

Support Level 1: 1.10360
Support Level 2: 1.10255
Support Level 3: 1.10150
Support Level 4: 1.10040