First, we look into the previous day trade and what happened on August 8, 2018, and the EUR/USD pair opened at 1.15973 and went high at 1.16274 and gone to low at 1.15722 and finally closed at 1.16089. The calculated pivot point for the day is 1.16028.
The difference between high and low was 55 pips and there was a little fair chance for traders to take the opportunity and benefit.
For the last few days, this pair is moving from 1.1530 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 1.16459, 1.16908 levels and sell at 1.15912, 1.15064 levels to get more profits.
BUYING AND SELLING LEVELS TO BE OBSERVED BY TRADERS
Level
First Level
Second Level
Third Level
Selling Level
1.1560
1.1530
1.1500
Buying Level
1.1607
1.1660
TODAY EVENTS TO BE OBSERVED AND TRADERS SHOULD BE CAUTIOUS AT THESE TIMES AND TAKE ADVANTAGE OF THE EVENTS
EURUSD FUNDAMENTALS TODAY
GMT
Event
Previous
08:00
EUR Economic Bulletin
12:30
USD Producer Price Index (MoM)
0.3%
12:30
USD Producer Price Index (YoY)
3.4%
12:30
USD Producer Price Index ex Food & Energy (YoY)
2.8%
12:30
USD Producer Price Index ex Food & Energy (MoM)
0.3%
12:30
USD Continuing Jobless Claims
1.724M
12:30
USD Initial Jobless Claims
218K
