Technical analysis of EURUSD for 09.08.2019

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EURUSD: pair caught in the B-B channel

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On Thursday the 8th of August, trading on the euro closed down. The EURUSD pair remained within Wednesday’s range. Markets have stabilised for the time being following reports that the US and China are set to continue trade talks in September. Investors were also calmed by the PBOC’s statement that it has not manipulated the value of the yuan to mitigate the effects of increased tariffs from the US on Chinese goods.

Technical analysis of EURUSD for 07.08.2019

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EURUSD: correction to the trend line

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On Tuesday the 6th of August, trading on the euro closed slightly down. The stock market, along with the US dollar, was propped up by the strengthening of the yuan, which dropped from 7.1399 to 7.0415 against the greenback. The correction on the EURUSD pair, coupled with an increased appetite for risk, dragged the euro down to 1.1168. The pair then recovered some of its losses to close at 1.1198.

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