Technical Analysis EUR/USD 05 August


Today’s technical analysis is on August 05, the EUR / USD pair is dominated by bullish sentiment to complete the consolidation in the Asian session, at strong support levels of 1.11150 - 1.10835 therefore it is advisable to wait for the breakdown of a strong resistance level, which can open the way to levels 1.11655 - 1.12170 within the London and New York Sessions.

Thus, the best opportunities for placing deals can be initiated before or during the London session from 1.11365 where the Fibonacci levels indicate. The MACD histogram is still located in the negative zone, but already above its signal line, continues to rise smoothly and thereby gives a buy signal. Stochastic Oscillator has entered the overbought zone and is forming a similar signal. In an alternative scenario, you should wait for the breakdown of the strong support level of 1.11045, then the level of 1.10545 - 1.10020 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: 1.11260

Resistance Level 1: 1.11365
Resistance Level 2: 1.11470
Resistance Level 3: 1.11575
Resistance Level 4: 1.11680

Support Level 1: 1.11150
Support Level 2: 1.11045
Support Level 3: 1.10940
Support Level 4: 1.10835