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Main » 2018 » August » 7 » The euro dollar technical outlook EUR / USD today 07.08.2018: Euro - the trend line is broken, began "bull" phase
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The euro dollar technical outlook EUR / USD today 07.08.2018: Euro - the trend line is broken, began "bull" phase

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Results of the last trading day EUR / USD:

The euro began the new week with decline, request for tenders in the states to the level of 1.1530. The pressure on the European currency came from the general strengthening of the American with an empty economic calendar.


Also added uncertainty escalating trade conflict between the United States and China. The Chinese authorities have announced plans to introduce duties on imports from the United States in the amount of $ 60 billion. Against this backdrop, the US yield on 10-year bonds fell 2.96% c to the level of 2.924%. 

 

 

When the yield is reduced by the background of political turmoil, it exerts pressure on the weekly main currencies rather than the dollar. By the close of the European session, buyers regained all the losses, raising the rate to the level of 1.1570.

 

Planned statistics (GMT + 3):

At 17:00 in Canada will be released PMI PMI Ivey from July.

At 23:30 the American Petroleum Institute (API) will release weekly US inventories of crude oil.

 

 

Fig. 1 hourly chart of EUR / USD

 

Current Situation EURUSD:

 

The euro slipped to 180 th degrees on the background of falling US10Y yield, as well as general strengthening of US dollar. Prior to the closing of the European session, the price is below the trend line, so all purchases are risky. After the breakdown of the trend line forecast is expected to strengthen the euro against the dollar from 1.1545 / 50 to 67 degrees - 1.1611 to 04:00 MetaTrader4 platform time. The picture is mixed crosses, the main thing - the cross EUR / GBP is trading in positive territory.


If the market goes down my path, then you can take aim at the level of 1.1670. Increase EURUSD quotes should be seen as a correction to the downside movement. Of important economic data in the second half does not come out.


The purpose of the "bears" is the development of decline under 1.1527 and 1.1508 (at least the current year).

 

EURUSD Forecast for today Vladislav Antonov Alpari

 

 

 

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