EUR USD Technical Analysis August 20 2018
The EUR rose 0.57% against the USD on Friday and closed at 1.1440. Today in the European session while EUR USD technical analysis august 20, 2018 is preparing at 9:45 GMT, the pair is trading at 1.1405, which is 0.30% lower from yesterday’s closed.
In the United States, data showed that A preliminary look at consumer sentiment for August came in below expectations. According to an initial reading released on Friday. The Consumer Confidence Index of the University of Michigan was 95.3 this month, which is the lowest level since September. Economists polled by Reuters forecast the index to reach 98 in August, up from 97.1 in July. Richard Kerten, chief economist at consumer surveys at the university, said the weakness “reflects less favorable ratings for buying conditions, mainly because of the less favorable perceptions of market prices.”
The US Leading Economic Indicators (LEI) index rose by 0.6% in July to 110.7, following a 0.5% increase in June. And a 0.1% increase in May. “The LEI index in the US increased in July, indicating that the US economy will continue to expand at a steady pace for the remainder of this year,” said Ataman Ozyildirim, Business Development and Growth Studies at the Conference Council.
When the US market opens, the economic data will release United States Federal Reserve Exchange Rate. In line with market expectations in August 2018, the Fed placed its target range at 1.75% to 2% for the federal fund rate. Policymakers said that abor market continued to strengthen and that economic activity was increasing at a strong rate, suggesting a possible rate hike at its next meeting in September 2018.
EUR USD technical analysis august 20 2018.
The pair is expected to find support at 1.1390. And a fall through could take it to the next support level of 1.1338. The pair is expected to find its first resistance at 1.1468. And a rise through could take it to the next resistance level of 1.1495. For today the expected trading range is between 1.1338, Support and 1.1495 Resistance.
The expected trend for today is Bearish.
Supports Levels: Support 1: 1.1390, Support 2: 1.1338, Support 3: 1.1310
Resistance Levels: Resistance 1: 1.1468, Resistance 2: 1.1495, Resistance 3: 1.1546
Previous day`s high: 1.1444
Previous day`s low: 1.1365
EUR/USD Buying Opportunity for Intraday Trading August 20, 2018
Buy near the support area 1.1390 and 1.1338 as soon as you get reversal candlesticks patterns like Hammer, Bullish Englufing, Long Leged Doji or Dragonfly Doji.
EUR/USD Selling Opportunity for Intraday Trading August 20, 2018
Sell near the resistance area 1.1468 and 1.1495 as soon as you get reversal candlesticks patterns like Shooting Star, Bearish Englufing, Long Leged Doji or Gravestone Doji.