EUR USD Technical Analysis September 3, 2018
The EUR declined 0.54% against the USD on Friday and closed at 1.1607. Today in the European session while EUR USD technical analysis September 3, 2018 is preparing at 7:45 GMT, the pair is trading at 1.1610, which is 0.02% higher from yesterday’s closed.
In Europe, data showed that the Core consumer prices rose in the eurozone 1% in August of 2018 compared to the same month a year earlier. The eurozone core inflation rate averaged 1.40 per cent between 1997 and 2018, with an all-time high of 2.60 per cent in March 2002 and a low of 0.60 per cent in January, January 2015.
The euro zone unemployment rate was 8.2 percent in July of 2018, the same rate as in the previous month and the lowest since November 2008. This was in line with market expectations. The eurozone unemployment rate averaged 9.73 per cent between 1995 and 2018, reaching an all-time high of 12.10 per cent in March 2013 and a low of 7.30 per cent in October 2007.
When the European market opens, the economic data will release such as Interest rate in the eurozone: The European Central Bank (ECB) held its benchmark revaluation rate at 0% on July 26, reiterating that the monthly pace of net asset purchases will fall to 15 billion euros from September to December 2018 and will expire later. The euro zone average interest rate was 2 per cent between 1998 and 2018, reaching an all-time high of 4.75 per cent in October 2000, a record low of 0 per cent In March of 2016.
Euro Manufacturing Manufacturing PMI: Euro zone manufacturing PMI fell to 54.6 in August from 2018 from 55.1 in July, below market expectations at 55, according to preliminary estimates. The reading indicated the slowest expansion in the manufacturing sector since November of 2016. Export orders rose at least two years. Demand growth was the weakest in three years. Job creation fell to a 17-month low. Input inflation accelerated as wages, fuel, transport and commodity prices rose, while output prices slowed.
EUR USD technical analysis September 3, 2018
The pair is expected to find support at 1.1565. If a fall through could take it to the next support level of 1.1520. The pair is expected to find its first resistance at 1.1670. If a rise through could take it to the next resistance level of 1.1732. For today the expected trading range is between 1.1520, Support and 1.1670 Resistance.
The expected trend for today is Bullish.
Supports Levels: Support 1: 1.1565, Support 2: 1.1520, Support 3: 1.1310
Resistance Levels: Resistance 1: 1.1670, Resistance 2: 1.1732, Resistance 3: 1.1546
Previous day`s high: 1.1689
Previous day`s low: 1.1607
EUR/USD Buying Opportunity for Intraday Trading September 3, 2018
Buy near the support area 1.1565 and 1.1520 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 September 3, 2018
Sell near the resistance area 1.1669 and 1.1732 as soon as you get reversal candlesticks patterns like Shooting Star, Bearish Englufing, Long Leged Doji or Gravestone Doji.