Technical Analysis EUR/USD 05 October

2020-10-05

Today's technical analysis for October 05, the EUR / USD pair is dominated by bullish sentiments to complete the consolidation in the Asian session, at strong support levels 1.17215 - 1.16990, therefore it is advisable to wait for the breakdown of the strong resistance level, which can open the way to the levels 1.17720 - 1.18225 within the London and New York sessions.

Thus, the best trading opportunities can be triggered before or during the London session from 1.17425 where the Fibonacci levels indicate. The MACD histogram is still in the positive zone and below its signal line, but it started to rise very smoothly and thus indicates a possible strengthening of bullish sentiment. Stochastic Oscillator is in the neutral zone and is giving a buy signal. In an alternative scenario, you should wait for the breakdown of the strong support level 1.17110, then the targets of investors will be the levels 1.16710 - 1.16205.

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: 1.17320

Resistance level 1: 1.17425
Resistance level 2: 1.17530
Resistance level 3: 1.17635
Resistance level 4: 1.17740

Support level 1: 1.17215
Support level 2: 1.17110
Support level 3: 1.17005
Support level 4: 1.16990