Technical Analysis EUR/USD 08 July

2019-07-08

Today's technical analysis for July 08, the EUR / USD pair is dominated by bearish sentiment to complete consolidation in the Asian session, at strong resistance levels of 1.12385 - 1.12715 therefore it is desirable to wait for the breakdown of a strong support level, which can open the way to the levels 1.11775 - 1.11370 during London and New York Sessions.

Thus, the best placement opportunities for deals can be initiated before or during the London session from 1.12170 where Fibonacci levels indicate. The MACD histogram is still located in the negative zone and below its signal line, continues to gradually decline and thereby gives a signal to sell. Stochastic Oscillator went to the exit from the oversold zone and forms the opposite signal. In the alternative scenario, one should wait for the breakdown of the strong resistance level of 1.12490, then the target of investors will be the levels of 1.12865 - 1.13360.

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

Analysis of EUR / USD

Price at the moment: 1.12280

Resistance Level 1: 1.12385
Resistance Level 2: 1.12490
Resistance Level 3: 1.12600
Resistance Level 4: 1.12715

Support Level 1: 1.12170
Support Level 2: 1.12065
Support Level 3: 1.11960
Support level 4: 1.11855