Technical Analysis EUR/USD 09 August

2019-08-09

Today’s technical analysis is on August 09, the EUR / USD pair is dominated by a bearish sentiment to complete the consolidation in the Asian session, at strong resistance levels 1.12035 - 1.12350; therefore, it is advisable to wait for the breakdown of a strong support level, which can open the way to levels 1.11555 - 1.11045 within the London and New York Sessions.

Thus, the best opportunities for placing deals can be initiated before or during the London session from 1.11835 where the Fibonacci levels indicate. The MACD histogram is still located in the positive zone and below its signal line, continues to decline smoothly and thereby gives a sell signal. Stochastic Oscillator hesitantly entered the oversold zone and is forming a similar signal. In an alternative scenario, you should wait for the breakdown of the strong resistance level of 1.12140, then the level of 1.12440 - 1.12945 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: 1.11930

Resistance Level 1: 1.12035
Resistance Level 2: 1.12140
Resistance Level 3: 1.12245
Resistance Level 4: 1.12350

Support Level 1: 1.11835
Support Level 2: 1.11730
Support Level 3: 1.11625
Support Level 4: 1.11520