E Forex Analysis Of EUR/USD For Wednesday, July 11

First, we look into the yesterday trade and what happened on July 10, 2018, and it opened at 1.17495 and went high at 1.17619 and gone low to 1.16895 and finally closed at 1.17433. The calculated pivot point for the day is 1.17316.

The difference between high and low was reasonable 72 pips and there was a good chance for a trader to take the opportunity from high to low levels since the difference is in a good range. Now the opportunity is going to consolidation and lower levels for 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 there is no significant impact from any of the events after trade war with China. Hourly traders are waiting for an opportunity to buy at 1.1790 level and sell at 1.1690 level, to get more profits.

BUYING AND SELLING LEVELS TO BE OBSERVED BY TRADERS

Level

First Level

Second Level

Third Level

Selling Level

1.1688

1,1665

1.1638

Buying Level

1.1772

1.1790

1.1818

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

EURUSD FUNDAMENTALS TODAY

GMT

Event

Previous

07:00

 EUR Non-monetary policy's ECB meeting

 

07:00

 EUR ECB President Draghi's Speech

 

07:30

 EUR ECB's Praet Speech

 

n/a

 EUR 10-y Bond Auction

0.48%

11:00

 USD MBA Mortgage Applications

-0.5%

12:00

 EUR ECB's Mersch speech

 

12:30

 USD Producer Price Index (MoM)

0.5%

12:30

 USD Producer Price Index ex Food & Energy (MoM)

0.3%

12:30

 USD Producer Price Index ex Food & Energy (YoY)

2.4%

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