EUR USD Technical Analysis 3 August 2020
EUR USD Technical Analysis: The EUR declined 0.63% against the USD on Friday and closed at 1.1771. Today in the Asian session, while EUR USD technical Analysis 3 August 2020 is preparing at 5:15 GMT, the pair is trading at 1.1772, which is 0.01% higher from yesterday’s closed.
The pair is expected to find support at 1.1721 and a fall through could take it to the next support level of 1.1700. The pair is expected to find its first resistance at 1.1800, and a rise through could take it to the next resistance level of 1.1865. Today’s expected trading range is between 1.1720 support and 1.1900 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.1720
Support 2: 1.1700
Support 3: 1.1665
Important Important resistance levels:
Resistance 1: 1.1800
Resistance 2: 1.1865
Resistance 3: 1.1900
EUR/USD buying opportunity for intraday trading on August 3, 2020
Buy near the support zones 1.1720 and 1.1700 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
EUR/USD selling opportunity for intraday trading on August 3, 2020
Sell near the resistance zones 1.1800 and 1.1865 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.
Economic events to watch for the next 24 hours: ISM Manufacturing PMI (USD)