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Technical Analysis Report - EUR/USD

18/08/2016 // 06:15:51 am

General outline:

The currency pair EUR/USD continues to dominate as pair is trading above the 61.8 Fibonacci extension (minimum-maximum uptrend 2000-2008), which passes near the level EUR 1.1995.

Present scenario:
The currency pair traded firmly despite the poor general market sentiment- the correction in the stock markets and the US currency gains on Wednesday. The EURUSD pair is trading steadily at EUR 1.1270, consolidating after yesterday's growth from EUR1.1180 to EUR 1.1323

Trading commendations:
 Level 1.1195-1.1235, the old resistance area, is now acting as a strong support, and resistance area 1.1300-1.1322 and above.

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