FX.co - EUR/USD analysis for August 04 2021 - Inside day formation and potential for the breakout play

2021-08-04T11:58:35

Relevance until2021-08-06

Technical analysis:

EUR/USD analysis for August 04 2021 - Inside day formation and potential for the breakout play

EUR is still trading inside of the tight range at the price of 1,1865. My advice is to watch for potential breakout.

Trading recommendation:

Watch for the breakout of the tight consolidation to confirm further direction.

Upside breakout of resistance at 1,1905 can lead EUR towards 1,1980

Downside breakout of support at 1,1850 can lead EUR towards 1,1782

Weekly high impact events can bring more volume and potential breakout....

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ EUR/USD analysis for August 04 2021 - Inside day formation and potential for the breakout play