Forex Analysis Of EUR/USD For Wednesday, August 15
In Forex Trading, every day is not an independent day, it is an extension day of the previous day trading. First, we look into the previous day trade and what happened on August 14, 2018, and the EUR/USD pair opened at 1.13994 and went high at 1.14287 and gone to low at 1.13299 and finally closed at 1.13423. The calculated pivot point for the day is 1.13669.
The difference between high and low was 98 pips and there was a very big chance for traders to take the opportunity and benefit.
For the last few days, this pair is moving from 1.1260 to 1.1790 levels, now it is going to the lowest 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 1.1375, 1.1475 levels and sell at 1.1324, 1.1246 levels, in order to get more profits. It is moving sideways and will try to go on the upper side.
BUYING AND SELLING LEVELS TO BE OBSERVED BY TRADERS
Level |
First Level |
Second Level |
Third Level |
Selling Level |
1.1300 |
1.1250 |
1.1200 |
Buying Level |
1.1480 |
1.1535 |
1.1585 |
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 |
---|---|---|---|
24h |
EUR Assumption Day |
||
24h |
EUR Assumption Day |
||
24h |
EUR EcoFin Meeting |
||
24h |
EUR Assumption Day |
||
12:30 |
USD Retail Sales ex Autos (MoM) |
0.6% |
0.2% |
12:30 |
USD NY Empire State Manufacturing Index |
25.6 |
22.6 |
13:15 |
USD Industrial Production (MoM) |
0.6% |
|
13:15 |
USD Capacity Utilization |
78.0% |
|
14:00 |
USD Business Inventories |
0.4% |
|
14:00 |
USD NAHB Housing Market Index |
68 |
|
14:30 |
USD EIA Crude Oil Stocks change |
-1.351M |
|
16:00 |
EUR German Buba President Weidmann speech |
See the levels in the chart when you are going to trade:
(Click on image to enlarge)