empty
 
 
08.09.2020 07:45 AM
Technical Analysis of EUR/USD for September 8, 2020

Technical Market Outlook:

The EUR/USD pair had dropped below the level of 1.1822, which is a 61% Fibonacci retracement on the weekly time frame chart. This price action might indicate a deeper corrective cycle to come soon as the up trend looks exhausted for now. Any violation of the level of 1.1696 will be the firs indication of a correction. For now however, the key technical support is seen at the level of 1.1790 and the nearest technical resistance is located at 1.1865. Please notice the negative and weak sentiment based on RSI support the immediate bearish outlook.

Weekly Pivot Points:

WR3 - 1.2178

WR2 - 1.2088

WR1 - 1.1949

Weekly Pivot - 1.1865

WS1 - 1.1723

WS2 - 1.1635

WS3 - 1.1494

Trading Recommendations:

On the EUR/USD pair the main trend is up, which can be confirmed by almost 10 weekly up candles on the weekly time frame chart and 4 monthly up candles on the monthly time frame chart. This means any corrections should be used to buy the dips. The key long-term technical support is seen at the level of 1.1445. The key long-term technical resistance is seen at the level of 1.2555.

This image is no longer relevant

Summary
Urgency
Analytic
Sebastian Seliga
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