EUR USD Technical Analysis 31 July 2020
EUR USD Technical Analysis: The EUR declined 0.47% against the USD on Thursday and closed at 1.1846. Today in the Asian session, while EUR USD technical Analysis 31 July 2020 is preparing at 5:15 GMT, the pair is trading at 1.1899, which is 0.44% higher from yesterday’s closed.
The pair is expected to find support at 1.1800 and a fall through could take it to the next support level of 1.1770. The pair is expected to find its first resistance at 1.1925, and a rise through could take it to the next resistance level of 1.1950. Today’s expected trading range is between 1.1700 support and 1.1950 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.1800
Support 2: 1.1770
Support 3: 1.1700
Important Important resistance levels:
Resistance 1: 1.1925
Resistance 2: 1.1950
Resistance 3: 1.2000
EUR/USD buying opportunity for intraday trading on July 31, 2020
Buy near the support zones 1.1800 and 1.1770 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 July 31, 2020
Sell near the resistance zones 1.1925 and 1.1950 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: GDP m/m (CAD), Core PCE Price Index m/m (USD), Personal Spending m/m (USD), Michigan Consumer Sentiment (USD)