Monday, August 6, 2018

EUR/USD - 07 August 2018


Fundamental Highlights

The Single currency holds above the 1.15495 support level although German Factory Orders drop by 4.0%. Sentiment remains on the side of the U.S Dollar given U.S's high GDP growth, hawkish Fed, on target inflation rate, and higher U.S bond yields.

Technical Analysis

The Euro remains to trade slightly above the 1.15495 support level. The pair has recently reached the 13-period moving average and given that sentiment remains on the U.S Dollar's side, expectations point towards a break of the 1.15495 exposing the 1.15031 level.

Support: 1.15495 1.15031
Resistance: 1.16161 1.16480

Chart (H4)