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 13, 2018, and the EUR/USD pair opened at 1.13714 and went high at 1.14324 and gone to low at 1.13646 and finally closed at 1.13995. The calculated pivot point for the day is 1.13988.
The difference between high and low was 68 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 1.1380 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 1.1434, 1.1475, levels and sell at 1.1375, 1.1284 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
1.1350
1.1320
1.1290
Buying Level
1.1435
1.1480
1.1510
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
09:00
EUR Industrial Production w.d.a. (YoY)
2.5%
2.6%
09:00
EUR Gross Domestic Product s.a. (YoY)
2.2%
2.1%
09:00
EUR Gross Domestic Product s.a. (QoQ)
0.4%
0.3%
10:00
USD NFIB Business Optimism Index
107.9
107.2
n/a
EUR 6-Month Letras Auction
-0.419%
-0.399%
n/a
EUR 12-Month Letras Auction
-0.362%
-0.351%
12:30
USD Export Price Index (YoY)
5.3%
12:30
USD Import Price Index (MoM)
-0.4%
12:30
USD Export Price Index (MoM)
0.3%
12:30
USD Import Price Index (YoY)
4.3%
12:55
USD Redbook index (MoM)
0.9%
12:55
USD Redbook index (YoY)
5.6%
