Performance for the Day

Trade war between the U.S and China is currently dragging EURUSD pair price to July 19th low. The pair may break the 1.1574 support very soon if the Trade war tension continues.

However, Bulls are now trying to make the pair price close above the 1.1600 psychological area. As at the time of writing this post, EURUSD price is at the 1.1595 area.

The 4hr 200 moving average area is currently at the 1.1661 area as price dropped for more than 60 pips from around that level today.

Next on the economic calendar is U.S Non Farm Payroll data due on tomorrow.

Trade Levels to Watch

A strong break above the 1.1620 level will signal more bullish correction of the pair to the 1.1661 area. A break below the 1.1545 area will signal a bearish move of the pair to the 1.1515 area.

Trade

Caution: Forex trading is risky. It is advisable that you acquire enough experience before you start to trade with real money. Do not invest in money that you cannot afford to lose (it is important that you study leverage, lot size, and money management in Forex trading very well before you execute your trade decision).

To trade in the Forex Market you must first sign up with a Forex Broker. There are lots of Forex Brokers out there that offer good service to their clients. Services include tight spread, partnership amongst others. My preferred brokers are 1. Alpari (https://alpari.com/en/?partner_id=1244646) and 2. FXTM (http://forextime.com/?partner_id=4806145). You may sign up through any of the partner links above. You may also send me a mail in case you need me to guide you on how to sign up and start trading (beanfxtrader@gmail.com).

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