E Forex Analysis Of EUR/USD For Tuesday, August 7

First, we look into the previous day trade and what happened on August 6, 2018, and the EUR/USD pair opened at 1.15675 and went high at 1.15702 and gone to low at 1.15293 and finally closed at 1.15524. The calculated pivot point for the day is 1.15506.

The difference between high and low was 40 pips and there was a little chance for traders to take the opportunity and benefit.

For the last few days, this pair is moving from 1.1530 to 1.1790 levels, now, it is going to high levels from previous low levels since the dollar became strong due to some events.  

Traders should be cautious since it reached the oversold region and it may go to some recovery levels. Four Hour chart followers & traders are waiting for an opportunity to buy at 1.15740, 1.15912 levels and sell at 1.15309, 1.14757 levels to get more profits.

BUYING AND SELLING LEVELS TO BE OBSERVED BY TRADERS

Level

First Level

Second Level

Third Level

Selling Level

1.1562

1.1500

1.1470

Buying Level

1.1607

1.1629

1.1659

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

EURUSD FUNDAMENTALS TODAY

GMT

Event

Actual

Previous

06:00

 EUR Industrial Production s.a. (MoM)

-0.9%

2.6%

06:00

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

2.5%

3.1%

06:45

 EUR Current Account

€-2.3B

€-2.9B

06:45

 EUR Exports, EUR

€40.93B

€40.51B

06:45

 EUR Trade Balance EUR

€-6.25B

€-6.01B

06:45

 EUR Imports, EUR

€47.18B

€46.52B

12:55

 USD Redbook index (MoM)

 

0.5%

12:55

 USD Redbook index (YoY)

 

4.2%

14:00

 USD JOLTS Job Openings

 

6.638M

n/a

 USD IBD/TIPP Economic Optimism (MoM)

 

56.4

15:30

 USD 3-Year Note Auction

 

2.685%

15:30

 USD 4-Week Bill Auction

 

1.91%

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