E Forex Analysis Of EUR/USD For Wednesday, August 8

First, we look into the previous day trade and what happened on August 7, 2018, and the EUR/USD pair opened at 1.15525 and went high at 1.16056 and gone to low at 1.15496 and finally closed at 1.15973. The calculated pivot point for the day is 1.15841.

The difference between high and low was 56 pips and there was a little fair 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 it is in an oversold region. Traders should be cautious since it reached sideways and the oversold region and it may go to some recovery levels. Four Hour chart followers & traders are waiting for an opportunity to buy at 1.16284, 1.16908 levels and sell at 1.16065, 1.15912 levels to get more profits.

BUYING AND SELLING LEVELS TO BE OBSERVED BY TRADERS

Level

First Level

Second Level

Third Level

Selling Level

1.1560

1.1530

1.1500

Buying Level

1.1630

1.1660

1.1690

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

07:00

 EUR Industrial Output Cal Adjusted (YoY)

0.5%

1.3% 

11:00

 USD MBA Mortgage Applications

-3.0%

-2.6%

12:45

 USD FOMC member Barkin speech

   

14:30

 USD EIA Crude Oil Stocks change

 

3.803M

17:00

 USD 10-Year Note Auction

 

2.859%

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