Technical Analysis EUR/USD 02 September

2019-09-02

Today’s technical analysis is on September 02, the EUR / USD pair is dominated by a bearish sentiment to complete the consolidation in the Asian session, at strong resistance levels of 1.10215 - 1.10530; therefore, it is advisable to wait for the breakdown of a strong support level, which can open the way to levels 1.09725 - 1.09220 within the London and New York Sessions.

Thus, the best opportunities for placing deals can be initiated before or during the London session from 1.09820 where the Fibonacci levels indicate. The MACD histogram is still located in the negative zone and below its signal line, continues to decline rapidly and thereby gives a sell signal. Stochastic Oscillator has gone out of the oversold zone and is generating the opposite signal. In an alternative scenario, you should wait for the breakdown of the strong resistance level of 1.10320 then the investors' target will be the levels 1.10720 - 1.11225.

In fact, today's expected important economic news in particular can lead to significant volatility of key pairs, this can stimulate a significant movement to fluctuations during the London and New York sessions. This allows investors to take advantage of the Buy / Sell transactions from minimum / maximum levels throughout the day.

EUR / USD analysis

Current Price: 1.09910

Resistance Level 1: 1.10215
Resistance Level 2: 1.10320
Resistance Level 3: 1.10425
Resistance Level 4: 1.10530

Support Level 1: 1.09820
Support Level 2: 1.09715
Support Level 3: 1.09610
Support Level 4: 1.09500