Aug 04 2021 0
Low volatility continues to be the general trend of the market at the moment. However, there are still notable trading signals appearing.
- The NZD and AUD were the best performers among major currencies on Tuesday, driven by their central banks.
- US stocks closed higher and near all-time highs.
- Senate Majority Leader Schumer: We'll get the infrastructure bill done before the August break.
- Fed Governor Bowman: It may take time for some to return to the workforce.
- An oil tanker was seized in the Sea of Oman. Supposedly an Iranian attack.
- European indices ended the session with mixed results.
- Fed official Daly: There is no reason to expect the factors holding back labor supply to be permanent.
- US factory orders for June were 1.5% vs. 1.0% estimate.
The price has continued to go down and broke through the 109 zone creating the lowest level since the end of May. Although there is a small bullish signal on H4, the buying pressure at this moment compared to July 19 is quite weak. , so it is likely that the price will continue to go down and towards the target area of 108.5. Those who have short positions can consider moving SL/partial exit to reduce risk.
The price hasn't broken out of the box yet, the triangle/pennant pattern has failed, and a bearish pin bar has appeared on the daily, these are the latest signs in favor of the EURUSD bearish. We continue to maintain short positions, the target is around the bottom of the box, in case the price breaks above the box, sell around the downtrend line, 1.195-1.200.
The price continues to consolidate in a narrow range, our sell orders have not progressed much, however, there are no significant disadvantages to this strategy. You continue to maintain, if you have not entered the order, you can wait for the price to break the consolidation area (the box) before entering the order. Target remains around 1.375.
The first test of buy orders has been passed, the short-term downtrend line has been broken. Currently, the price is continuing to move towards the target of 1.265, you may consider moving SL to BE to reduce risk.
The price is not falling as expected but is continuing to consolidate. We continue to observe the box closely, if the price breaks up, the target is 0.75 then 0.76 respectively. If the price breaks down, the target will be around 0.72. Those who still have sell orders can still hold orders, SL is above 0.74 area.