empty
12.08.2024 08:50 AM
Hot forecast for EUR/USD on August 12, 2024

The forex market remains unchanged, and the dollar remains stagnant. This is not surprising, given the empty economic calendar. Moreover, it seems that this situation will persist throughout the day, as no macroeconomic data is being published. Thus, only unexpected news could move the market. However, the most likely scenario is stagnation until the middle of the week, when inflation data for the United States will be released.

This image is no longer relevant

The EUR/USD pair is moving above the 1.0900 level, indicating a slowdown in the corrective cycle. However, it is still too early to say that the cycle has ended, as the quote has not yet returned above the 1.0950 mark, which would signal a recovery in the euro's value.

On the 4-hour chart, the RSI technical tool was temporarily below the average level of 50 but has since returned above it. This indicates a decrease in the volume of short positions.

Regarding the Alligator indicator on the same time frame, two of three MA lines are intertwined, which indicates a stagnant phase.

Expectations and Prospects

Stabilization of the price below 1.0900 is necessary for the next stage of the corrective movement. Otherwise, this level could become a support, leading to the end of the corrective cycle and a gradual recovery in the euro's value.

The comprehensive indicator analysis points to a stagnant phase in the short-term and intra-day periods.

Dean Leo,
انسٹافاریکس کا تجزیاتی ماہر
© 2007-2025
ٹائم فریم منتخب کریں
5
منٹ
15
منٹ
30
منٹ
1
گھنٹہ
4
گھنٹے
1
دن
1
ہفتہ
انسٹافاریکس کے ساتھ کرپٹو کرنسی کی معاملاتی تبدیلیوں سے کمائیں۔
میٹا ٹریڈر 4 ڈاؤن لوڈ کریں اور اپنی پہلی ٹریڈ کھولیں۔
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    مقابلہ میں شامل ہوں

تجویز کردہ مضامین

ابھی فوری بات نہیں کرسکتے ؟
اپنا سوال پوچھیں بذریعہ چیٹ.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.