August Technicals: EUR, GBP And JPY

August. The worst time for a trader. The market is calm and relaxed, so instead of the weekly news, I'll give my technical opinion on a few instruments that can provide something similar to volatility and trading opportunities in the coming week.

The focus is on three key currencies:

• EUR/USD

This currency pair is in a global downtrend. Since May 2018, EUR/USD has remained at the support level of 1.1550. During its time in the flat, a triangle with a resistance line of 1.1700 has been formed. The price is likely to soon come out of the triangle downwards, which is very typical for this figure. The nearest targets for downward movement are 1.1300.

• GBP/USD

The pound has been falling against the US dollar for several days in a row. This strong downtrend is accompanied by short-term stops. The support level of 1.3000 has been confidently passed, which only confirms the strength of the bears. Moving Average indicates a continuation of the downward movement. The nearest target is 1.2765.

• USD/JPY

Bulls are gaining strength on this pair. The upward trend, which began in March 2018, was confirmed by a breakdown at the level of 111.010. After the breakdown, the price returned to confirm the level of support and it continues to grow. With the strengthening of the dollar, we will most likely see new highs for this instrument. The target is 113.148

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