EUR USD Technical Analysis August 13 2018

The EUR declined 1.02% against the USD on Friday and  closed at 0.1583. The EUR USD broke below the key price area at 1.1500 with a strong daily closing, indicating further bearish momentum in the pair in the coming days. As the euro struggles against the recent economic and trade crisis and the tensions of Britain’s exit from the EU, the US dollar has met expectations that led to some rapid gains in the process. Although the EUR does not have any impressive economic reports to be published this week, the EUR GDP report will be published on Tuesday, CPI will be released on Friday which is also expected to move EUR USD toward the downside. But the current scenario, the euro is expected to struggle to maintain its gains against the US dollar in this process, while the US dollar is expected to dominate in the coming days.

The major trend of  EUR USD is down and indicating it a bearish trend, but the bears managed to control the movement of the EUR USD to retreat to the 1.1390 level to reach the bearish target of the symmetrical triangle on the daily time frame.

The minor trend is up and expected to test the resistance level 1.15000. Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area. Although for euro does not have any impressive an economic report to be published today, therefore according to our technical analysis of  EUR USD it is expected the EUR/ USD to move upside.

 

Today  August 3, 2018 at 9:15 GMT, the EUR/USD trading at 1.1580. For today the expected trading range is between 1.1295, Support and 1.1500 Resistance.

 

The expected trend for today is Bullish

 

Supports and Resistance Levels

Supports Levels:

Support 1: 1.1350

Support 2: 1.1295

Support 3: 1.1200

 

Resistance Levels:

Resistance 1: 1.1500

Resistance 2:  1.1590

Resistance 3: 1.1650

 

Previous day`s high : 1.1535

Previous day`s low : 1.3872

 

GBP/USD Technical Analysis August 13, 2018

USD/JPY Technical Analysis August 13, 2018