Daily Technical analysis for August 11, 2021


Current level – 1.1719

Bear pressure continues to sink the euro and the US dollar remains strong against most major currencies. Sellers slowed down around the 1.1711 support, with no significant presence of buyers on the market. Expectations are for a pullback phase of the market which should be limited by the resistance 1.1766. If 1.1711 support is breached, the sell-off could deepen to 1.1600. Today, traders will expect data on the consumer price index for the United States at 12:30 GMT. Assumptions are that inflation has peaked, but if we see another rise, investors may see this as a possibility for a rate hike and a stronger dollar in the aftermath.


Current level –  110.61

The strong rally for the US dollar against the yen managed to take the pair over the high at 110.56. The area has not yet been confirmed as support and the first one is at 110.30. The expectations are for a slowdown in the trend and indecision in the market at least until the announcement of the data mentioned in the EUR/USD analysis. Should the rally continue, an attack at the top of July at 111.51 can be expected. On the other hand, the entry of bears can plunge the pair to the beginning of the momentum around 108.74.


Current level – 1.3824

There is a reversal of the trend of the analysed time frame. If support at 1.3827 is broken, declines to the next zone at 1.3776 and even 1.3720 can be expected. A jump in prices above the resistance of 1.3862 will be an early signal that the bulls are still on the market. In this scenario, they would try to attack the high at 1.3979 again.

Gold price breaks the support

Gold price confirmed breaking 1734.00 after closing the daily candlestick below it, reinforcing the expectations of continuing the bearish trend, which targets 1680.00 level as a first negative station.

Stochastic loses its positive momentum to support the chances of resuming the expected bearish trend, noting that breaching 1734.00 followed by 1750.00 levels will stop the negative scenario and lead the price to start recovery attempts on the intraday basis.

The expected trading range for today is between 1700.00 support and 1750.00 resistance.

The expected trend for today: Bearish

Source: Technical analysis

Share this post

Comments (13)

  • Nila Reply

    I read this post fully concerning the comparison of most recent and previous technologies, it’s amazing article.

    3rd December 2021 at 7:02 pm
  • Albertina Reply

    Great work! This is the type of info that are supposed to be shared around the
    internet. Disgrace on the seek engines for not positioning this publish higher!
    Come on over and discuss with my website . Thanks =)

    9th December 2021 at 1:24 am
  • Emelina Reply

    Nice blog right here! Additionally your site rather a lot up fast! What web host are you the use of? Can I get your affiliate link on your host? I wish my website loaded up as fast as yours lol

    9th December 2021 at 3:03 am
  • Quinn Reply

    Greetings! I know this is kinda off topic however , I’d figured I’d ask.

    Would you be interested in exchanging links or maybe guest authoring a blog post or vice-versa?

    My blog goes over a lot of the same subjects as yours and I believe
    we could greatly benefit from each other. If you are interested feel
    free to send me an email. I look forward to hearing from you!
    Excellent blog by the way!

    9th December 2021 at 4:06 pm
  • Maryam Reply

    Thanks for ones marvelous posting! I seriouslyenjoyed reading it, you happen to be a great author.I will make certain to bookmark your blog and will come back lateron. I want to encourage you to continue your great work, have a nice day!

    9th December 2021 at 5:13 pm
  • Garnet Reply

    It’s very easy to find out any topic on net as compared
    to books, as I found this post at this site.

    9th December 2021 at 10:29 pm
  • 주소모아 Reply

    … [Trackback]

    […] Find More on to that Topic: dayfinanceltd.com/daily-technical-analysis-for-august-11-2021/ […]

    7th January 2022 at 10:26 pm
  • Marcella Reply

    This page definitely has all of the information and facts
    I wanted about this subject and didn’t know who to ask.

    12th January 2022 at 8:56 pm
  • Reina Reply

    Hi there, of course this article is in fact nice
    and I have learned lot of things from it about blogging. thanks.

    13th January 2022 at 3:37 am
  • Krista Reply

    Hey there outstanding website! Does running a blog such as this require a lot of work?
    I have no understanding of programming but I was hoping to start my own blog
    in the near future. Anyway, if you have any ideas or tips for new
    blog owners please share. I know this is off topic but I just needed to ask.

    13th January 2022 at 10:31 pm
  • Virgilio Reply

    An outstanding share! I have just forwarded this onto a colleague who
    has been doing a little research on this. And he actually ordered me dinner simply because
    I discovered it for him… lol. So let me reword this….
    Thanks for the meal!! But yeah, thanks for spending the time to talk
    about this issue here on your blog.

    13th January 2022 at 11:00 pm
  • Delilah Reply

    Wonderful article! We will be linking to this
    particularly great article on our website. Keep up the great writing.

    16th January 2022 at 12:53 am
  • Ezequiel Reply

    Hi there everyone, it’s my first pay a visit at this web
    site, and piece of writing is in fact fruitful designed for me, keep up
    posting such posts.

    18th January 2022 at 3:55 pm

Leave a Reply

Your email address will not be published. Required fields are marked *

User Agreement

Day Finance is an educational site and a platform for exchanging Forex information. All information contained on this web site is a personal opinion or belief of the author. None of these data is a recommendation or financial advice in any sense.
Terms And Conditions