empty
 
 

Forex Analysis & Reviews: October 9, 2020 : EUR/USD daily technical review and trade recommendations.
time 09.10.2020 05:45 PM
time Relevance up to, 10.10.2020 05:45 PM

This image is no longer relevant

On September 25, The EURUSD pair has failed to maintain enough bearish momentum to enhance further bearish decline.

Instead, recent ascending movement has been established within the depicted movement channel leading to bullish advancement towards 1.1750-1.1780 which failed to offer sufficient bearish pressure.

Intraday traders should have noticed the recent breakout above 1.1750 as an indicator for a possible bullish continuation towards 1.1880 where the upper limit of the movement channel comes to meet the pair.

Hence, the price level around 1.1850 remains a targeted level for Intraday Traders as long as bullish persistence above the depicted KeyZone of 1.1750-1.1780 is maintained.

Any downside pullback towards 1.1750-1.1780 should be considered for bullish reversal hence, a valid Intraday BUY Entry.

Trade recommendations :

Conservative traders should wait for the current bullish pullback to pursue towards the upper limit of the movement channel around 1.1820 for a valid SELL Entry.

Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

EUR/USD. December 7. Euro rises again

On Tuesday, the EUR/USD pair moved closer to the correctional level of 200.0% at 1.0430. Today, it reversed and started a new uptrend towards the correctional level of 161.8%

Samir Klishi 15:26 2022-12-07 UTC+2

GBP/USD technical analysis on December 7, 2022. GBP retreats from 1.2111

On Tuesday, GBP/USD bounced off the retracement level of 1.2238 on H1 in favor of the US dollar. As a result, the price dropped to the Fibonacci level of 127.2%

Samir Klishi 14:51 2022-12-07 UTC+2

Daily Video Analysis: GBPUSD, H1 Bearish Breakout Opportunity

Today we take a look at GBPUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups

Dean Leo 14:18 2022-12-07 UTC+2

GBPUSD Potential for Bearish Drop | 7th December 2022

Looking at the H4 chart, my overall bias for GBPUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Expecting price to head

Dean Leo 14:15 2022-12-07 UTC+2

AUDUSD Potential for Bearish Drop | 7th December 2022

Looking at the H4 chart, my overall bias for AUDUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum

Dean Leo 14:12 2022-12-07 UTC+2

ETHUSD Potential For Bearish Drop | 7th December 2022

On the H4 chart, the overall bias for ETHUSD is bearish. However, the price is now above the Ichimoku cloud which might indicate a short-term shift to a bullish market

Dean Leo 14:10 2022-12-07 UTC+2

Forex forecast 12/07/2022 USD/CAD, AUD/USD and Oil from Sebastian Seliga

Let's take a look at the technical picture for USD/CAD, AUD/USD

Sebastian Seliga 11:58 2022-12-07 UTC+2

Technical Analysis of GBP/USD for December 7, 2022

Technical Market Outlook: The GBP/USD pair has been seen coming off the extremely overbought market conditions that were made during a bearish divergence between the price and the momentum indicator

Sebastian Seliga 11:45 2022-12-07 UTC+2

Technical Analysis of EUR/USD for December 7, 2022

Technical Market Outlook: The EUR/USD pair has been seen testing the intraday technical support located at 1.0445, so any breakout lower will be considered bearish. A new swing high

Sebastian Seliga 11:44 2022-12-07 UTC+2

EUR/USD and GBP/USD technical analysis on December 7, 2022

EUR/USD Higher time frames Yesterday, bears continued to push the price lower but the movement was weak. Ahead is an obstacle presented by the support of the daily short-term trend

Evangelos Poulakis 09:43 2022-12-07 UTC+2
Can't speak right now?
Ask your question in the chat.