Euro Dollar forecast for August 2, 2018, EUR/USD rate analysis

Forecast Euro Dollar EUR/USD 02.08.2018 is written in the quotations on the Eurodollar on the level 1,1670.

If you read my forecast for the month (August), then you are aware that denote all these red lines on the chart of the Euro Dollar. If not read-this is a Forex triangle shape on the daily chart EUR/USD. With a high degree of probability in the direction in which the inside will be broken through the triangle, in the direction and will develop the trend of the Euro dollar.

At the moment, the EUR/USD rate is in the last third of the triangle, and from day to day it is expected to break. I’ll tell you even more. The breakthrough is expected by Friday 3 August. Nonfarm Payrolls monthly report on employment in non-agricultural sector of the USA will be released. On such days, at the time of the report, there is increased volatility in the dollar.

Euro Dollar forecast for August 2, 2018, EUR/USD rate analysis

If we look at the Ichimoku Kinko Hyo indicator, we will see a big nothing. Now flat, and the price is all the time inside the cloud. The signal lines of the Ichimoku indicator also change their readings every few days. So the best strategy for the Euro dollar in the coming days will be the work from the borders of the channel. The exchange rate of the currency pair fell by some size of the average daily movement-we buy against the dwindling bear market. Just focus on the boundaries of the triangle.

Thus, the EUR / USD forecast for the Euro Dollar on August 2 involves working inside the triangle on Forex. We expect short-term depreciation of the dollar to the mark 1,1630. In this area, we recommend buying a lot, with a stop below 1,1580.