MARKET NEWS AND ANALYSIS

Friday, August 10, 2018

EUR/USD Daily Outlook



EUR / USD has fallen sharply since yesterday. the net break of the support 1,1508 ended the lateral consolidation between 1,1790 and 1,1508 and thus confirms the resumption of the downward trend starting since 1,2554, the objective of the decrease to 1,1447 retracement of fibonacci 50% of the increase between 1, 0360 and 1.2554.

The next goal will be the 1,1200 area fibonacci retracement of 61.8%

In the event of a bullish recovery the low limit of the trading range will play the role of resistance and which will constitute a good point of entry to the fall


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