Technical Analysis EUR/USD 02 August

2019-08-02

Today’s technical analysis is on August 02, the EUR / USD pair is dominated by bullish sentiment to complete the consolidation in the Asian session, at strong support levels of 1.10610 - 1.10280, therefore, it is advisable to wait for the breakdown of a strong resistance level, which can open the way to levels 1.11020 - 1.11550 within the London and New York Sessions.

Thus, the best opportunities for placing deals can be initiated before or during the London session from 1.10815 where the Fibonacci levels indicate. The MACD histogram is still located in the negative zone and slightly below its signal line, but has started to rise smoothly and thereby gives a buy signal. Stochastic Oscillator is in the neutral zone and is generating a similar signal. In an alternative scenario, you should wait for the breakdown of the strong support level of 1.10500, then the level of 1.10025 - 1.09570 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: 1.10710

Resistance Level 1: 1.10815
Resistance Level 2: 1.10920
Resistance Level 3: 1.11025
Resistance Level 4: 1.11130

Support Level 1: 1.10610
Support Level 2: 1.10500
Support Level 3: 1.10395
Support Level 4: 1.10280