Midday update for the EURUSD 02-08-2019

Economies.com
2019-08-02 10:24AM UTC

The EURUSD pair shows calm positive trades after the stability of the intraday bullish channel’s support line against the price’s recent negative attempts, and it might test the key resistance 1.1180 before turning back to decline again.

 

In general, the main bearish trend scenario will remain valid as long as the price remains stable below the mentioned resistance, waiting to target 1.1000 followed by 1.0857 levels as next main stations, being aware that we need to be careful during the upcoming trading, especially at the time of releasing the US data that might cause high volatility at the markets.

 

The expected trading range for today is between 1.0950 support and 1.1140 resistance.

 

The expected trend for today: Bearish

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