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Trading Guide & Signal- Weekly Technical Analysis Aug12 to 16,2019

My Favorite forex trading platform is New York close charts & closes 5 PM EST,weekly 5 days .click to FX Broker in menu for Demo trading account.

Disclaimers: Technical analysis & signal commentary of following market charts are for educational & trading idea only.

EURUSD:

The currency pair EURUSD is bearish trend.

Support level- 1.1110 & 1.1020

Resistance level- 1.1280, 1.1325 & 1.1430

As per price action technical analysis a bullish pin bar formed from the price 1.100 at support level .we can not trade as buy because of counter trend.

Current market condition:  The short term remain bearish below 1.1280.so that we are considering to sell at strength of getting sell signal below of 1.1280.

Trade Idea: sell in daily chart & intraday.

EURGBP:

The EURGBP pair is bullish trend.

Support level-0.9096 & 0.8957

Resistance level-0.9304 & 0.9403

A bearish pin bar created last week  and it is failed .The market is still bullish movement and reached at monthly resistance level 0.9310.

Trade idea: we are consider to sell at 0.9310 becaouse of price action pull back trading strategy matching.

 

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