Technical Analysis EUR/USD 01 September

2020-09-01

Today's technical analysis for September 01, the EUR / USD pair is dominated by bearish sentiments to complete the consolidation in the Asian session, at strong resistance levels 1.20015 - 1.20330, therefore it is advisable to wait for the breakdown of the strong support level, which can open the way to the levels 1.19610 - 1.19105 within the London and New York sessions.

Thus, the best trading opportunities can be triggered before or during the London session from 1.19805 where the Fibonacci levels indicate. The MACD histogram is in the positive zone and above its signal line, continues to grow rapidly and thereby gives a buy signal. Stochastic Oscillator is in the overbought zone and is giving a similar signal, although it is not clear yet. In an alternative scenario, you should wait for the breakdown of the strong resistance level of 1.20120, then the target of investors will be the levels 1.20520 - 1.20925.

As such, today's expected important economic news in particular could lead to significant volatility in key pairs, which could stimulate significant swing movement during the London and New York sessions. This enables investors to take advantage of Buy / Sell trades from low / high levels throughout the day.

EUR / USD analysis

Price at the moment: 1.19910

Resistance level 1: 1.20015
Resistance level 2: 1.20120
Resistance level 3: 1.20225
Resistance level 4: 1.20330

Support level 1: 1.19805
Support level 2: 1.19700
Support level 3: 1.19695
Support level 4: 1.19590