FX.co ★ EUR/USD for August 08,2019 - ABC down completed, upward movement is expexted

Daily view:

Based on the daily time-frame, I found that today EUR is trading in defined trading range between the price of 1.1245 and 1.1165, which is normal after the trend day like we had few days ago. Anyway, the underlying trend is bullish and I would watch only for long positions. Daily candle did successful rejection of 20EMA and I expect more upside

Important levels to watch based on daily view:

Resistance levels:

1.1245

1.1282

Support levels:

1.1167

1.1163

4H time-frame view:

Based on the 4H time-frame, I found end of the downward correction abc in the background, which his good sign for further upside continuation. Watch for buying opportunities with the targets at 1.1245 and 1.1282.