Daily Market Analysis 04 Aug 2022

Daily Market Analysis 04 Aug 2022

  • Market News
  • Daily Market News
  • 2022, 04 August

EUR/USD

Technical Outlook

EUR/USD pair has formed a Piercing Candlestick Pattern in the hourly chart which shows bullishness in the pair. Formation of multiple Doji candlesticks near the higher level is showing its consolidation phase. Once it breaks the resistance zone of 1.0210 would seek more upside. A break of the support zone of 1.0120 would amplify the selling.

 



Technical Indicators
Action
RSI (43)
SELL 
Oscillator (47)
BUY
MACD (Below Midline)
SELL 
200 EMA (1.0867)
SELL 


Strategy


Scenario 1
Scenario 2
Action
BUY
BUY
Entry
1.0165
1.0175
Target 1
1.0195
1.0205
Target 2
1.0225
1.0235
Stop Loss
1.0135
1.0145


Key Signposts

No Key Data


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