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Trading recommendations for the EUR / USD pair on August 3
Analysis of transactions
The first signal for the bottom of the euro at the price level of 1.1895 did not lead to a rise, but the sell signal, which arose after the price reached the level of 1.1862, turned out more profitable since such led to a fall to the level of 1.1825, the entry points of which are clearly visible in the chart.
The European currency declined on Friday due to a larger contraction of the Eurozone economy in the second quarter, as well as on the recently released good data on US spending, which only strengthened the position of the dollar against the euro.
Trading recommendations for the GBP / USD pair on August 3
Analysis of transactions
The movement towards the level of 1.3140, gave about 25 points of profit, after which the GBP / USD pair turned around and began to decline amid profit-taking of large players, which usually occurs at the end of the month.
The main reason for the recent rise of the pound is the decreasing demand for the US dollar amid problems in the United States. Traders are not yet very concerned about the Brexit trade agreement and the likelihood of its conclusion.
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