empty
 
 
it
Supporto
Apertura rapida di un conto
Piattaforma di trading
Ricaricare / Prelevare

11.08.202008:28 Forex Analysis & Reviews: Brief trading recommendations for EUR/USD and GBP/USD on 08/11/20

Exchange Rates 11.08.2020 analysis

The EUR/USD currency pair followed the trail of the pound sterling changing the direction of trend lines 1, 2 and 3 with upward inclination to the horizontal, 4,5 and 6. This change calls into question the long-running channel up where it is possible to dramatically change direction from upward to downward in case of breaking of the horizontal line No. 6.

Until line number 6 (area 1.1700) is broken, price fluctuations should be considered within the price range 1.1700 // 1.1810 // 1.1910 (6 + 5 + 4, lines).

Based on the above, it is worth considering several possible market development scenarios:

First, a rebound from line #6.

In this case, we consider a price rebound from line 6 (area 1.1700) towards line 5 (area 1.1810). The entry point for a buy position is considered higher than 1.1780.

Second, hold the upward move.

In this case, the scenario proceeds from the first option, where a rebound from line 6 leads to an increase in the volume of buyers, which leads to a breakdown of line 5 and directs the quote towards line 4 (area 1.1910). The entry point to a buy position is considered if the price is consolidated above 1.1825.

Third, a breakdown of line #6.

In this case, the downward move set two days earlier is held on the market, as a result of which line No. 6 (area 1.1700) is broken through, and the quote is directed towards the values of 1.1650 - 1.1600 - 1.1550, thereby changing the direction of the market. The entry point for a sell position is considered below the level of 1.1690.

Exchange Rates 11.08.2020 analysis

The GBP/USD currency pair continues to follow within the sideways channel, lines 4, 5 and 6 (1.2985 // 1.3080 // 1.3185), where the last day was expressed in price fluctuations along line 5, with an amplitude of 40-50 points.

The situation for the pound sterling is the same as for the European currency. The long-term ascending channel (1 + 2 + 3 - lines) has changed to a sideways channel (lines 4 + 5 + 6), work is primarily done within the range 1.2985 // 1.3080 // 1.3185, but already in case of approaching lines 4 and 6, a breakout tactic is considered.

Based on the foregoing, it can be assumed that the 1.3060 / 1.3100 amplitude along line No. 6 will not last long, the tactics of working within the range (4 + 5 + 6) is relevant.

Buy positions are considered above 1.3105, towards 1.3145-1.3180.

Sell positions are considered below 1.3060, towards 1.3025-1.2985.

Exchange Rates 11.08.2020 analysis

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Gven Podolsky,
Analytical expert of InstaSpot
© 2007-2025
Approfittati subito dei consigli degli analisti
Deposita i fondi sul conto di trading
Apri un conto di trading

Le recensioni analitiche di InstaSpot ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaSpot, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.

In questo momento non potete parlare al telefono?
Ponete la vostra domanda nella chat.