Technical Analysis EUR/USD 08 August


Today's technical analysis is on August 08, the EUR / USD pair is dominated by a bearish sentiment to complete the consolidation in the Asian session, at strong resistance levels 1.12170 - 1.12485 therefore it is advisable to wait for the breakdown of a strong support level, which can open the way to levels 1.11665 - 1.11150 within the London and New York Sessions.

Thus, the best opportunities for placing deals can be initiated before or during the London session from 1.11980 where the Fibonacci levels indicate. The MACD histogram is still located in the positive zone, but already below its signal line, continues to decline smoothly and thereby gives a sell 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 resistance level 1.12275, then the level of 1.12670 - 1.13175 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: 1.12080

Resistance Level 1: 1.12170
Resistance Level 2: 1.12275
Resistance Level 3: 1.12380
Resistance Level 4: 1.12485

Support Level 1: 1.11980
Support Level 2: 1.11875
Support Level 3: 1.11770
Support Level 4: 1.11665