EUR/USD: still bullish but limited, one more attempt towards 1.2000$ before big correction downside 1.1560$ & 1.1460$ support levels.


  • The market’s mood is positive, although there are no fireworks until Wednesday FED meeting.
  • The EU published July Industrial Production, which was up 4.1% in the month.
  • The trend still sideways between 1.725 to 1.1945, waiting for one more attempt upside 1.2000$ before big downside correction 

As long as trading is conducted above the range of 1.1854, you can expect the EUR/USD to continue growing to the resistance area of 1.1905, However, A consolidation above 1.1905 will open a direct road to the highs of 1.1949 and 1.2010 ( One more Time possible to hit 1.2000$ before big correction downside coming monthly) If the pair again falls or fail to break 1.1890 then returning possible towards support levels larger support of 1.1810$ and 1755$.

Events: FED meeting Wednesday evening, expecting some more clear fed about Policy, I am expecting short term Bullish dollar.

Indicators: Moving averages Trading is above the 30 and 50 daily moving averages, which indicates an attempt by the bulls to resume the upward correction of the euro.
MACD indicator (Moving Average Convergence / Divergence - moving average convergence/divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9

SUPPORT/RESISTANCE
✅S1= 1.1810
✅S2=1.1725
✴️R1=1.1890
✴️R2=1.1945

 

Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only and do not constitute investment advice. You should do your own thorough research before making any investment decisions Opinions, market data, recommendations or any other content is subject to change at any time without notice. ALL-MY-PIPS, will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Always Trade and Invest at Your Own Risk.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD holds above 1.17, shrugging off upbeat US consumer confidence

EUR/USD is trading above 1.17, holding its gains despite upbeat US data. The CB Consumer Confidence jumped to 101.8 points, beating estimates. Fed speakers are awaited and the presidential debate is eyed.

EUR/USD News

GBP/USD retreats from highs amid Brexit, coronavirus uncertainty

GBP/USD is retreating from the highs close to 1.29 as concerns about Brexit talks and rising UK coronavirus cases are taking their toll on the pound. 

GBP/USD News

XAU/USD holds steady near multi-day tops, around $1890 region

Gold built on the previous day's goodish bounce from 100-day SMA and edged higher through the first half of the trading action on Tuesday. The overnight sustained move beyond 100-hour SMA was seen as a key trigger for bullish traders and pushed the commodity to multi-day tops.

Gold News

Presidential Debate Preview: Trump may lose due to his own buildup, market implications

The first presidential debate is set to shake up the elections campaign.  President Trump's playing down of challenger Biden's skills may turn into a double-edged sword. Markets will move on implications for a new fiscal relief package. 

Read more

WTI drops to fresh lows near $39.70 ahead of API

Prices of the American benchmark for the sweet light crude oil broke below the $40.00 mark per barrel and slipped back to the $39.70 region on Tuesday.

Oil News

Forex Majors

Cryptocurrencies

Signatures