EUR/ USD Daily Market Analysis 10 August

Amy Forex

Member
90 0
Hi all,

As we mentioned yesterday, the EUR/USD prices dropped, finding support at 1.2260 which is the Bollinger middle band. We expect that the single currency will remain under selling pressure and resume its downside movement to test lower support at 1.2241 and then 1.2205 (the trend line). Any correction to 1.2323 provides an opportunity to short the pair, using tight stops to avoid an unexpected rally due to any surprising positive headlines for the euro.



Support 1: 1.2241
Support 2: 1.2205

Resistance 1: 1.2323
resistance 2: 1.2353

Nice Trading all ;)
Source mbcfx.com
 

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