Intraday Forex Tuesday, August 11 (USDJPY, EURUSD, & etc.) Economic data puts the EUR and the U.S. dollar in focus as U.S. – China tension lingers.


Hi everyone. This observation is made around 3:00 UTC. The Resistance and Support Line were constructed according to Fibonacci retrenchment. Any discussion is welcomed.

Asia Pacific markets positive in early trade on Tuesday, following gains on Wall Street overnight as investors keeping an eye on the rapidly deteriorating relationship between Washington and Beijing.
U.S. congressional leaders and Trump administration officials ready to resume negotiations on a coronavirus aid deal, although it was unclear whether they would be able to bridge on their differences.

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  • The dollar stood little changed at 106.05 yen.
  • Both Stochastic and RSI oscillators at normal range of 50 after retreating from overvalued ranges before.
  • The MACD is trading above its signal line and positive. The configuration is positive.
Important Levels to Watch for Today:
  • Resistance line of 106.324 and 107.073.
  • Support line of 105.398 and 104.649.

  • The euro changed hands at $1.1744 having eased in previous trade.
  • Stochastic entered the overvalued range of 80.
  • RSI oscillator steadies around normal range of 50 after a pullback from undervalued range.
  • The MACD is trading above its signal line and negative.
Important Levels to Watch for:
  • Resistance line of 1.19344 and 1.20193.
  • Support line of 1.16597 and 1.15749.

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