Overall view of EURUSD - Update of August the 5th's week
Fundamental: US President Donald Trump tweeted his disappointment in the Fed on Thursday which caused some volatility but did not break EUR/USD from its range. His tweet stated that he was not happy about the dollar’s strength and attributed this to the Fed, stipulating that they have kept interest rates high compared to other countries. Trump's eagerness to lower DXY's value will probably give some punch to the FOREX pair which will seek for higher prices.
Technical: After a false breakout of the long run demand level resulting to the new low of the year, EURUSD soared to higher levels and is now consolidating on a tight range. The pair is strongly bullish and in case of a range breakout will settle back at the supply level .
Advice: Stay bullish and buy any low points while we don't break downside @1.11500. The first target could be viewed around @1.13000.
Technical: After a false breakout of the long run demand level resulting to the new low of the year, EURUSD soared to higher levels and is now consolidating on a tight range. The pair is strongly bullish and in case of a range breakout will settle back at the supply level .
Advice: Stay bullish and buy any low points while we don't break downside @1.11500. The first target could be viewed around @1.13000.
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