Forex Analysis Of EUR/USD For Thursday, July 12
First, we look into the yesterday trade and what happened on July 11, 2018, and it opened at 1.17434 and went high at 1.17576 and gone low 1.16646 and finally closed at 1.16719. The calculated pivot point for the day is 1.16980.
The difference between high and low was 93 pips and there was a good chance for a trader to take the opportunity since the difference is in a good range. Now the opportunity is going to lower levels for a few days. For the last many days, this pair is moving from 1.1530 to 1.1790 range, now it is going to lower levels from the overbought region since there is a pressure of ECB minutes events. Hourly traders are waiting for an opportunity to sell at 1.1596 and 1,1549 level and buy at 1.1732, 1.1760 level, to get more profits. For immediate trades, traders may consider these levels
BUYING AND SELLING LEVELS TO BE OBSERVED BY TRADERS
|
Level |
First Level |
Second Level |
Third Level |
|
Selling Level |
1.1648 |
1.1630 |
1.1612 |
|
Buying Level |
1.1732 |
1.1760 |
1.1788 |
TODAY EVENTS TO BE OBSERVED AND TRADERS SHOULD BE CAUTIOUS AT THESE TIMES AND TAKE ADVANTAGE OF THE EVENTS
|
GMT |
Event |
Actual |
Previous |
|---|---|---|---|
|
24h |
EUR Eurogroup meeting |
||
|
06:45 |
EUR Consumer Price Index (EU norm) (YoY) |
2.3% |
2.4% |
|
06:45 |
EUR Consumer Price Index (EU norm) (MoM) |
0.0% |
0.5% |
|
06:45 |
EUR Inflation ex-tobacco (MoM) |
0.0% |
0.5% |
|
09:00 |
EUR Industrial Production s.a. (MoM) |
1.3% |
-0.8% |
|
09:00 |
EUR Industrial Production w.d.a. (YoY) |
2.4% |
1.7% |
|
11:30 |
EUR ECB Monetary Policy Meeting Accounts |
||
|
12:30 |
USD FOMC Member Kashkari Speech |
||
|
12:30 |
USD Initial Jobless Claims |
231K |
|
|
12:30 |
USD Continuing Jobless Claims |
1.739M |
|
|
12:30 |
USD Consumer Price Index (MoM) |
0.2% |
|
|
12:30 |
USD Consumer Price Index n.s.a (MoM) |
251.588 |
SEE THE LEVELS IN THE CHART AND TRADE ACCORDINGLY
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