Forex Analysis Of EUR/USD For Tuesday, July 17
First, we look into the previous day trade and what happened on July 16, 2018, and it opened at 1.16895 and went high at 1.17246 and gone to low at 1.16749 and finally closed at 1.17102. The calculated pivot point for the day is 1.17032.
The difference between high and low was 49 pips and there was a fair chance for a trader to take the opportunity since the difference is in a reasonable 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 higher levels from support levels since dollar become weak due EUR become strong due to some events. Four Hour chart followers & traders are waiting for an opportunity to buy at 1.17125, 1.17690 and sell at 1.16809, 1.16243 levels to get more profits. Below 1.1750 levels, trader can watch and go for selling, if it is not able to cross the resistance level.
BUYING AND SELLING LEVELS TO BE OBSERVED BY TRADERS
|
Level |
First Level |
Second Level |
Third Level |
|
Selling Level |
1.1688 |
1.1652 |
1.1615 |
|
Buying Level |
1.1746 |
1.1768 |
1,1788 |
TODAY EVENTS TO BE OBSERVED AND TRADERS SHOULD BE CAUTIOUS AT THESE TIMES AND TAKE ADVANTAGE OF THE EVENTS
|
GMT |
Event |
Previous |
|
08:00 |
EUR Industrial Orders s.a (MoM) |
-1.3% |
|
08:00 |
EUR Industrial Sales n.s.a. (YoY) |
4% |
|
08:00 |
EUR Industrial Sales s.a. (MoM) |
0.3% |
|
08:00 |
EUR Industrial Orders n.s.a (YoY) |
6.4% |
|
09:00 |
EUR Consumer Price Index (YoY) |
1.4% |
|
09:00 |
EUR Consumer Price Index (EU Norm) (MoM) |
0.3% |
|
12:55 |
USD Redbook index (MoM) |
-0.2% |
|
12:55 |
USD Redbook index (YoY) |
5.2% |
|
13:15 |
USD Industrial Production (MoM) |
-0.1% |
|
13:15 |
USD Capacity Utilization |
77.9% |
|
14:00 |
USD Fed's Powell Speech |
|
|
14:00 |
USD NAHB Housing Market Index |
68 |
See the levels in the chart when traders do the trade
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