Technical Analysis EUR/USD 07 August


Today’s technical analysis is on August 07, the EUR / USD pair is dominated by bullish sentiment to complete the consolidation in the Asian session, at strong support levels 1.12040 - 1.11725 therefore it is advisable to wait for the breakdown of a strong resistance level, which can open the way to levels 1.12545 - 1.13150 within the London and New York Sessions.

Thus, the best opportunities for placing deals can be initiated before or during the London session from 1.12255 where the Fibonacci levels indicate. The MACD histogram is still located in the positive zone and slightly above its signal line, continues to rise smoothly and thereby gives a buy signal. Stochastic Oscillator is near the overbought zone and forms a similar signal. In an alternative scenario, you should wait for the breakdown of the strong support level of 1.11935, then the level of 1.11535 - 1.11030 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: 1.12150

Resistance Level 1: 1.12255
Resistance Level 2: 1.12360
Resistance Level 3: 1.12470
Resistance Level 4: 1.12575

Support Level 1: 1.12040
Support Level 2: 1.11935
Support Level 3: 1.11830
Support Level 4: 1.11725