EURUSD Daily Forecast Aug 13 2020

EURO dollar 98656b

EURUSD: Halts Upside, Still Faces Pullback Threats…

As long as 1.1800 resistance holds on a daily closing basis, the EURUSD remains in a pullback mode and further down couldn’t be ruled out. Support comes at the 1.1735 levels ahead of 1.1685 levels. A halt is likely, It may turn higher from here. However; below 1.1685 sees further weakness to 1.1625 levels, further down, support comes in the 1.1550 level ahead of 1.1500 level.

On the upside, immediate resistance comes at the 1.1800 levels, above that level sees limited gains below 1.1875/1.1938 level. Above 1.1938 will extend the bullish move to 1.1995 levels, further upside, resistance comes at 1.2060 levels.

In conclusion: The EURUSD sees downside threats in the short-term forecast below 1.1800 levels.

Support: 1.1735, 1.1685, 1.1625, 1.1550, 1.1500

Resistance: 1.1800, 1.1875, 1.1938, 1.1995, 1.2060

Trend Direction:

Light bullish: Above 1.1800

Bullish: Above 1.1938

Light Bearish: Below 1.1800

Bearish: Below 1.1685

Key data/events which may affect EURUSD today:

  • U.S Initial Jobless Claims at 12:30 GMT.
EURUSD Daily Forecast Aug 13 2020