Horizontal volume analysis for 07.08.2020

Forecast for EUR/USD for 08.07.2020. A pullback movement is developing on the chart today. The most likely target is level 1.1810, from which the upward movement can be expected to resume. The target is level 1.1890. Here you can already consider the medium-term selling of the instrument since there is a fairly strong medium-term reversal signal on the chart.

Investment solutions: buy 1.1810 take profit 1.1890

Forecast for GBP/USD for 07.08.2020. The currency pair has updated today yesterday’s low at 1.3110. Now we are waiting for the resumption of movement up. The target is the level 1.1365, where the maximum was formed yesterday volumes that turned the price down. Here you can consider sale options.

Investment solutions: buy 1.3110 take profit 1.3165

Forecast for USD/JPY for 07.08.2020. The currency pair continues to consolidate in a fairly narrow range. This increases the uncertainty about the future direction of price movement. Therefore, we recommend that you refrain from Investment with this instrument now. As an alternative, you can consider selling from the level of 105.60 in the hope on the price exit from the sideways downward.

 Investment solutions: sell 105.60 и take profit 105.05

Author: Антон Будрин

Аналитик FTM

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