EUR/USD

    EUR/USD Mid-Session Technical Analysis for August 10, 2017

    2 months agoByJames Hyerczyk

    The EUR/USD is trading lower after an earlier attempt to breakout to the upside failed to attract the attention needed to continue the move. Traders are still trying to determine whether today is a risk on or a risk off day.

    EURUSD
    Daily EURUSD

    Technical Analysis

    The main trend is up according to the daily swing chart. However, momentum had been trending lower since the 1.1910 top on August 2. Yesterday’s closing price reversal bottom may have stopped the price slide.

    A trade through 1.1689 will negate the reversal bottom and signal a resumption of the downtrend.

    A sustained move over 1.1673 could trigger the start of a 2 to 3 day rally.

    The new short-term range is 1.1910 to 1.1689. Its retracement zone at 1.1800 to 1.1826 is the primary upside target. Aggressive counter-trend sellers may step in on a test of this zone. They are trying to form a potentially bearish secondary lower top. Buyers are going to try to take out this zone. If successful, then 1.1689 will become a new main bottom.

    The main range is 1.1312 to 1.1910. If 1.1689 fails as support then look for the selling to extend into its retracement zone at 1.1611 to 1.1540. An uptrending angle passes through this zone at 1.1572, making it a valid downside target.

    Forecast

    If the selling is strong enough to take out 1.1689, then look for the move to extend into 1.1611. This is followed by 1.1572 and 1.1540.

    If the buying is strong enough to take out 1.1673 then look for a labored rally into a series of levels at 1.1790, 1.1800 and 1.1826.

    Favorites

    SymbolLast PriceChangeChart

    Live Quotes

    Top Promotions
    Top Brokers

    FX Empire - the company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as link result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.
    FX Empire may receive compensation from the companies featured on the network.

    All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. FX Empire bears no responsibility for any trading losses you might incur as link result of using any data within the FX Empire.