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04.08.202112:00 Forex Analysis & Reviews: Technical analysis recommendations for EUR/USD and GBP/USD for August 4

Essas informações são fornecidas a clientes profissionais e de varejo como parte da comunicação de marketing. Elas não contêm e não devem ser interpretadas como consultoria, recomendação de investimento ou uma oferta ou solicitação para se envolver em qualquer transação ou estratégia em instrumentos financeiros. O desempenho passado não é uma garantia ou previsão de desempenho futuro. A Instant Trading EU Ltd. não se responsabiliza pela exatidão ou integridade das informações fornecidas, ou por qualquer perda decorrente de qualquer investimento com base em análises, previsões ou outras informações fornecidas por um funcionário da Empresa, ou de outra forma. O termo de responsabilidade completo está disponível aqui.

EUR/USD

Exchange Rates 04.08.2021 analysis

There have been no significant changes in the situation and the assessment since yesterday. The pair remained within the limits of the previous day, only slightly updating the minimum. As a result, the conclusions and expectations remain the same. The development of consolidation will contribute to the preservation of uncertainty. To change the situation and consider new prospects, the euro needs to either overcome the resistance at 1.1920 (weekly Fibo Kijun), in the zone of influence of which it slowed down last week, or return to the support of the daily Ichimoku Cloud (1.1849 – 1.1831 – 1.1812).

Exchange Rates 04.08.2021 analysis

On the lower time frames, the key levels continue to support the bulls, which today gather around 1.1867-71 (the central pivot point + a weekly long-term trend). The previous highs (1.1897 – 1.1909), as well as the resistances of the classic pivot points (1.1887 – 1.1911 – 1.1927), can be called benchmarks for bulls. The loss of supports (1.1867-71) will affect the current balance of power on H1 and will allow us to consider the strengthening of bearish sentiment. The downward targets within the day can now be noted at 1.1847 – 1.1831 – 1.1807.

***

GBP/USD

Exchange Rates 04.08.2021 analysis

The supports of the weekly Ichimoku Cloud (1.3881-1.3910) restrain the development of a corrective decline. If bulls now manage to hold their positions, and then lift and overcome the resistance in the area of 1.3958-1.3990 (the upper limit of the monthly cloud + the daily cloud + the weekly level), then it will be possible to re-assess the situation and consider new prospects based on the result of consolidation above these boundaries. If the supports (1.3881-1.3910) are still lost, then the bears will focus on 1.3830-51 (daily Tenkan + weekly Fibo Kijun) – 1.3777 (daily Kijun) – 1.3728 (daily Fibo Kijun) – 1.3690 (monthly Tenkan).

Exchange Rates 04.08.2021 analysis

On the lower time frames, the attraction and influence of key levels continue to support and preserve bullish interests. At the moment, the bulls are testing R1 (1.3940), followed by 1.3969 (R2), and 1.3999 (R3). For new opportunities to appear in the current situation, bears need to overcome the key supports at 1.3910-17 (the central pivot point + the weekly long-term trend) and get out of the consolidation zone of recent days (1.3875 minimum). Support for classic pivot points today can be noted at 1.3881 – 1.3851 – 1.3822.

***

In the technical analysis of the situation, the following are used:

higher time frames - Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels

H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)

Evangelos Poulakis
Analytical expert of InstaForex
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