E Forex Analysis Of EUR/USD For Monday, August 6

First, we look into the previous day trade and what happened on August 3, 2018, and the EUR/USD pair opened at 1.15839 and went high at 1.16074 and gone to low at 1.15627 and finally closed at 1.15658. The calculated pivot point for the day is 1.15786.

The difference between high and low was 44 pips and there was a little chance for traders to take the opportunity and benefit.

For the last many days, this pair is moving from 1.1530 to 1.1790 levels, now, it is going to the lowest levels from previous low levels since the dollar became strong due to some events.  Traders should be cautious since it reached the oversold region and it may go to some recovery levels. Four Hour chart followers & traders are waiting for an opportunity to buy at 1.15650, 1.15912 levels and sell at 1.15564, 1.15309 levels to get more profits.

BUYING AND SELLING LEVELS TO BE OBSERVED BY TRADERS

Level

First Level

Second Level

Third Level

Selling Level

1.1500

1.1470

1.1440

Buying Level

1.1562

1.1586

1.1607

TODAY EVENTS TO BE OBSERVED AND TRADERS SHOULD BE CAUTIOUS AT THESE TIMES AND TAKE ADVANTAGE OF THE EVENTS

EURUSD FUNDAMENTALS TODAY

GMT

Event

Actual

Previous

06:00

 EUR Factory Orders s.a. (MoM)

-4.0%

2.6%

06:00

 EUR Factory Orders n.s.a. (YoY)

-0.8%

4.4%

n/a

 EUR Individual Investment (Current Year)

 

5%

08:30

 EUR Sentix Investor Confidence

14.7

12.1

n/a

 USD Loan Officer Survey

   

15:30

 USD 3-Month Bill Auction

 

2%

15:30

 USD 6-Month Bill Auction

 

2.16%

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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