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EUR/USD and GBP/USD Forecast August 3, 2018

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The Euro fell rather hard during the trading session on Thursday, slicing through the 1.16 level, which is an area of short-term support and technically a break of the symmetrical triangle that I have on the chart. However, I think if we can break down below the bottom of the range we will probably go looking at the 1.15 level where a ton of support should be found. A break down below there would be a major break down in the market. I think that we may get a knee-jerk reaction to the downside with a strong jobs number, only to see a turnaround again. If we get a daily close significantly below the 1.15 level, this market could break down much lower. Otherwise, we will stay within the longer-term consolidation area. for more analysis: http://www.dailyforex.com
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Text Comments (2)
The Logic Thinker (1 month ago)
Mark M (1 month ago)
Very nice, ty!

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