By - Jamel Lahiani
Today our analysis will be concerned with EURUSD: The most traded currency pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.
GRAPHIC1: EURUSD HOURLY CHART (AUGUST 2, 2019)
The hourly chart is trending down. We can see that the resistance line in red is decreasing. The charts are between two limits the resistance line in red and the support line in green.
This pair is waiting for three majors and very highly impacts data released by the US Department of Labor, the Bureau of Economic Analysis and the U.S. Census Bureau concerned with:
If after the publication at 12H30 GMT the chart breaks the red line to the upside we have a bullish trending movement «BUY”. If the chart breaks the green line to the downside we have a bearish trending movement “SELL”.
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