E Forex Analysis Of EUR/USD For Thursday, July 12

First, we look into the yesterday trade and what happened on July 11, 2018, and it opened at 1.17434 and went high at 1.17576 and gone low 1.16646 and finally closed at 1.16719. The calculated pivot point for the day is 1.16980.

The difference between high and low was 93 pips and there was a good chance for a trader to take the opportunity since the difference is in a good range. Now the opportunity is going to lower levels for a few days. For the last many days, this pair is moving from 1.1530 to 1.1790 range, now it is going to lower levels from the overbought region since there is a pressure of ECB minutes events.  Hourly traders are waiting for an opportunity to sell at 1.1596 and  1,1549 level and buy at 1.1732, 1.1760 level, to get more profits.  For immediate trades, traders may consider these levels 

BUYING AND SELLING LEVELS TO BE OBSERVED BY TRADERS

Level

First Level

Second Level

Third Level

Selling Level

1.1648

1.1630

1.1612

Buying Level

1.1732

1.1760

1.1788

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

GMT

Event

Actual

Previous

24h

 EUR Eurogroup meeting

   

06:45

 EUR Consumer Price Index (EU norm) (YoY)

2.3%

2.4%

06:45

 EUR Consumer Price Index (EU norm) (MoM)

0.0%

0.5%

06:45

 EUR Inflation ex-tobacco (MoM)

0.0%

0.5%

09:00

 EUR Industrial Production s.a. (MoM)

1.3%

-0.8% 

09:00

 EUR Industrial Production w.d.a. (YoY)

2.4%

1.7%

11:30

 EUR ECB Monetary Policy Meeting Accounts

   

12:30

 USD FOMC Member Kashkari Speech

   

12:30

 USD Initial Jobless Claims

 

231K

12:30

 USD Continuing Jobless Claims

 

1.739M

12:30

 USD Consumer Price Index (MoM)

 

0.2%

12:30

 USD Consumer Price Index n.s.a (MoM)

 

251.588

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