EUR USD Technical Analysis 4 August 2020
EUR USD Technical Analysis: The EUR declined 0.01% against the USD on Monday and closed at 1.0895. Today in the Asian session, while EUR USD technical Analysis 4 August 2020 is preparing at 5:15 GMT, the pair is trading at 1.1772, which is 0.09% higher from yesterday’s closed.
The pair is expected to find support at 1.1700 and a fall through could take it to the next support level of 1.1650. The pair is expected to find its first resistance at 1.1785, and a rise through could take it to the next resistance level of 1.1800. Today’s expected trading range is between 1.1650 support and 1.1850 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.1700
Support 2: 1.1650
Support 3: 1.1580
Important Important resistance levels:
Resistance 1: 1.1785
Resistance 2: 1.1800
Resistance 3: 1.1850
EUR/USD buying opportunity for intraday trading on August 4, 2020
Buy near the support zones 1.1700 and 1.1650 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 4, 2020
Sell near the resistance zones 1.1785 and 1.1800 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: Economic events to watch for the next 24 hours: RBA Interest Rate Decision (AUD), Factory Orders m/m (USD)