Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Forecast for EUR / USD as of August 31, 2018

September 1, 2018 Analytics

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EUR / USD

The euro continues to keep intrigue, keeping at the high of August. But against the background of a general fall in related currencies, especially Australian, New Zealand dollars, not to mention less stable currencies, such an undertaking is already losing its meaning. You can, of course, go to the range 1.1750-1.1822, since not everything is lost, but you will have to fall faster after that.

Macroeconomic data looked good for dollar buyers. Personal incomes of consumers in June increased by the expected 0.3%, expenses also increased by 0.4%.

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Technically, on the daily chart, the price is held by the indicator line of the balance sheet, and also on a four-hour scale. At the same time, on H4, the signal line of the oscillator Marlin moved downwards, into a zone of negative values. The euro again grows against the fundamental factors, which is reflected in the different interpretations of technical indicators. However, yesterday, there were also external conditions, the stock market fell (S & P500 -0.44%).

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If the movement of the last two days is a correction from the growth of the second half of the month, then it can continue to support the indicator trend line at H4, to 1.1607, and then with new forces will go on storming the range 1.1750-1.1822.

The fastening under the trend line will allow the price to go down to the support of the price line of the highest scale, to 1.1530. Leaving the price under the trend line of Kruzenshtern 1.1457 on daily will allow talking about a further medium-term decline.

The material has been provided by InstaForex Company – www.instaforex.com

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