EUR/USD Trade Update

EUR/USD Trade Update

2021-08-12 • Updated

EUR/USD Daily Chart

EURUSDDaily 12 Aug 2021.png

EUR/USD 4H Chart

EURUSDH4 12 Aug 2021.png

EUR/USD declined slightly at the beginning of yesterday’s trading, reaching as low as 1.1705 right before the US data. The pair then bounced off that support all the way to 1.1750’s, leading our long position to be in profit once again. In the meantime, we maintain the Stop at 1.1690 ahead of today’s session. The current signal comes as a short-term play after the euro declined for 8 straight sessions. At the same time, if the pair managed to break above 1.1750 today, I would move my stop to the entry in order to protect the position from any possible loss.

S3 S2 S1 Pivot R1 R2 R3
1.1639 1.1686 1.1712 1.1733 1.1759 1.1780 1.1827



USD Downside Retracement Resumes
USD Downside Retracement Resumes

4H Chart Daily Chart The US Dollar Index failed to sustain its recent gains above its 50 DAY MA, the index declined back yesterday with higher trading volume, while all eyes are on the PPI data today after mixed economic releases over the past few…

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