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EUR/USD Daily Analysis for August 3, 2018

Good luck to all traders.
Today's analysis is so simple. as much as 1.1630 level/zone holds, I expect that EUR/USD will move downward. first target is 1.1510 level, next 1.1450 and 1.13
Similarly, I expect that GBP/USD will continue to down (after rate hike )
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EURo analysis

The euro is in a daily downtrend if it can break the support at 1.15, it can lower prices in the downtrend.
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EURUSD almost there

In spite of all the rhetoric talk we heard last week from Draghi, this euro rally has got to be seriously bothering the ECB. I am not sure about this but are we on the brink of a massive currency war right here?
We have been in one but this one isn't that obvious.
Ps. A way to strong EURO is very bad for the economy as it will eventually make Europe way less attractive to import goods from (trade with).
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EURUSD

EURUSD, earlier today we went down into the blue box. Not surprising as this was a strong support zone, note the multiple bounces from it. We now have a new box, the red one.
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USD/CHF fails above 0.98

U.S. dollar has been a laggard so far this week while euro gained some traction after it reclaimed 1.175. That's a recipe for Swiss franc gains while Catalan and North Korea crises still simmer in the background.
USD/CHF broke above both 200 DMA and 0.98 last week and touched 2017 trendline but sellers were waiting and took the pair back below both levels. 0.97 is the next target and then 100 and 50 DMA near 0.965. The mentioned 0.98 level should hold while sellers remain in the driver's seat.
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EUR/TRY Stalling Around Key Area After Large Gains

The EUR/TRY is stalling around a key resistance area. We're currently quoted at 4.2068, with the previous swing high back in January at 4.1764. This means that the pair hasn't made more then 1% gain all year.
If this wasn't weak enough, on the lower timeframe chart below we're seeing a ranging market. Because of both these charts I'm betting on the EUR/TRY staying range-bound in October.
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EUR/SEK Stays in Range All of 2017

The EUR/SEK is having another ranging year. The pair opened 2017 around the 9.57 handle is now quoted at 9.61, a percentage change of less then half of 1%.
But going back in time doesn't change the picture (see below). Here too we're seeing this currency pair locked in a range most of the time too. In fact except for a brief excursion above the 10 round figure during the US election last year, the EUR/SEK stayed remarkably flat.
The larger range spanned from 9.11 to 9.80, or around 7 percent. Th…
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EUR/GBP Returns to the Mean

The EUR/GBP is slowly returning to the mean. In August the pair dropped from a high of 0.9261 to close the month off at 0.8815. After the large gains during the past few months the pair is finally losing some ground.
But as can see on our next chart, the long-term trend on the weekly chart is still very bullish. These two conflicting trends as well as the congestion area the pair is in right now (see rectangle on chart one) should keep prices in range. Thus I'm betting on more range for the EUR/…
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EUR/JPY

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Range-bound Moves Persist in EUR/SEK

The smaller range-bound moves persist in the EUR/SEK. The pair opened March around the 9.55 handle and is currently trading at 9.4533, a percentage change of just over 1 percent. The chart also demonstrate a classic V-shaped reversal pattern.
Our second chart below also shows this V-shaped pattern but on much bigger timescale, the weekly chart. Here too we're seeing the EUR/SEK range-bound behavior.
This currency pair keeps being brought back to the 9.50 area, no matter how much it tries to stra…
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