empty
 
 
31.08.2020 11:38 AM
EUR/USD Retreat Is Complete!

The pair seems determined to resume its upside momentum after a minor retreat. It was trading at the 1.1910 level at the time of writing the article and it is expected to climb higher if the US Dollar Index hits new lows.

Technically, the rate escaped from a narrow range and from a descending pitchfork signaling further growth as EUR/USD accumulated more bullish energy in the past weeks. Powell's speech at the Jackson Hole has disappointed the USD's buyers, that's why the greenback droped. The euro's strength is not a reason for that.

This image is no longer relevant

EUR/USD stabilized above the broken upper median line (uml) and above the PP (1.1860) level. The next upside target stands at the 1.1959 level. A breakout of this static resistance suggests buying as the quote will be expected to register a broader rally.

The 1.2 level is seen as a potential upside target as well. I believe that the current breakout signals a valid breakout of this obstacle as well.

  • EUR/USD Trading Tips

Buy above today's high of 1.1929 with the first target at the 1.20 psychological level, or wait for a valid breakout above the R1 (1.1959) and place your target at the R3 (1.2116) level.

Sell only after a breakdown below 1.17, the bullish bias remains intact as long as the rate is located above this level.

Summary
Urgency
Analytic
Ralph Shedler
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 $6000 más!
    ¡En Diciembre, sorteamos $6000 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