Analysis and forecasts for EUR / USD pair on 05.08.15

FX:EURUSD   Euro / U.S. Dollar
The currency pair most of the day moving in a narrow consolidation, which was caused by the lack of relevant data on the calendar macro. Although today met US data on factory orders, but the reading was in line with market forecast (1.8%) and did not affect a significant impact on the currency pair discussed. It seems that the market is waiting for further macroeconomic data, which may lead to determine the appropriate direction for the EUR / USD pair. Tomorrow we will know the PMI for services for individual European countries and the PMI for the entire Eurozone. The United States will flow data on non-farm employment change in the ADP. It is worth mentioning that US data will have a stronger meaning. For a better reading of ADP increase expectations about interest rate hikes in the US.

At the time of analysis, the supply of trying to test the support level of 1.0916, which is in my opinion the lower bound of consolidation. In the case of supply overcome 1.0916 level it ought to be, towards the next support at 1.0868 (July 22 lows). The main objective should be for supply zone between 1,0808-31 support levels. Any defeat last support will open the way towards this year's lows.

Otherwise, if it came to the defense of 1,0868-1,0916 levels (better data from Europe, the worse the US,) we can reckon with increases in the vicinity of Tuesday's highs 1.0990 level or the surrounding area.
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