Sunday, August 5, 2018

EUR/USD - 06 August 2018


Fundamental Highlights

The Single currency continues its drop as investors maintain their optimistic outlook on the U.S currency. Although investors are starting the week following a mixed NFP report, they are still on the positive side of the greenback. The greenback's bullish sentiment is mainly attributed to high GDP growth, hawkish Fed, on target inflation rate, and higher U.S bond yields.

Technical Analysis

The Euro continues to drop after mixed trading on Friday. The pair is currently trading on the lower end of a major support level, a break of the 1.15495 will expose the 1.15031 level.

Support: 1.15495 1.15031
Resistance: 1.16161 1.16480

Chart (H4)