Volumetric analysis on August 13
Friday's decline was due to the news announcement. However, it gave us an opportunity to assess how the market participants are located. We see that in the price range of 1.1440-1.1490 accumulated a lot of volumes and there is a reason to believe that there remained sellers open interest. When the price rises to this range, we expect rebound reaction. The goal of the fall could be the historical level of 1.1350, and possibly 1.11250. The appearance of a price above 1.1490 will force us to stop thinking about a downtrend.
The overall strengthening of the US dollar changed our expectations for this pair. On Friday, in the price range of 1.3100 - 1.3035 went a lot of volume and spike was formed, which indirectly indicates the upcoming upward movement. A probable event may be immediate price increase towards resistance at 1.3235 or after the price is rolled back down to the area of 1,3100-1,3035.
As well as in the EURUSD pair we see large volumes, which appeared during Friday trading in the price range of 0.7300 - 0.7340. In this range, there may be interest of sellers and when the price approaches it, we expect some reaction there. Only appearance of a price above 0.7340 will indicate to us the breakdown of current tendency. The goal for the fall will be the historical levels of 0.7240 and 0.7190.
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