empty
 
 
25.08.2020 07:53 PM
August 25, 2020 : EUR/USD daily technical review and trade recommendations.

This image is no longer relevant

The EUR/USD pair has been moving-up since the pair has initiated the depicted short-term uptrend line on July 21.

By the end of July, a resistance level was formed around 1.1900 which prevented further upside movement for some time and forced the pair to have a downside pause towards 1.1715 in the form of a Wedge-Pattern.On August 12, a new short-term uptrend line was initiated around 1.1715 which allowed the EURUSD pair to achieve temporary breakout above the previously mentioned resistance zone.

On August 19, the mentioned breakout turned to be a false one. This enhanced the bearish side of the market initially towards 1.1800 where some bullish recovery was demonstrated on August 20.

Hence, Intraday traders should wait for another pullback to retest the upper limit of the depicted wedge-pattern around 1.1880-1.1900 for a valid SELL Position.

Initial target would be located around 1.1800 and Stop Loss should be set at 1.1950.

Summary
Urgency
Analytic
Mohamed Samy
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $10000 más!
    ¡En Enero, sorteamos $10000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback