EUR/USD Technical Analysis

(1,3340) The EUR/DOLL confirmed yesterday a session of consolidation interior the range of the previous session forming a new inside day with 1,3465 – 1,3310 the levels to follow in the coming hours. A break of the support confirmed by a daily closing will favour a deeper correction; however we expect already support at 1,3285 where we find a s/t support line! The indicators of the daily chart are still positive but those of the s/t ones turned below the line supporting further consolidation/ correction. The indicators of the hourly chart are already close to the oversold area and the 200 hours line at 1,3324 while showing potential positive reversals. Nevertheless we favour a little lower levels and therefore a test of the support line where one can try a long position with however a close stop!! We prefer remaining on the sideline

Read the full report: EURUSD 08.22

 

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