Technical Analysis EUR/USD 07 September

2020-09-07

Today's technical analysis for September 07, the EUR / USD pair is dominated by bullish sentiments to complete the consolidation in the Asian session, at strong support levels 1.18205 - 1.17890, therefore it is advisable to wait for the breakdown of the strong resistance level, which can open the way to the levels 1.18710 - 1.19215 within the London and New York sessions.

Thus, the best trading opportunities can be triggered before or during the London session from 1.18415 where the Fibonacci levels indicate. The MACD histogram is in the negative zone, but has merged with its signal line and is not giving clear signals at the moment. Stochastic Oscillator is near the overbought zone and is also not giving clear signals. In an alternative scenario, you should wait for the breakdown of the strong support level 1.18100, then the targets of investors will be the levels 1.17700 - 1.17195.

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: 1.18310

Resistance level 1: 1.18415
Resistance level 2: 1.18520
Resistance level 3: 1.18625
Resistance level 4: 1.18730

Support level 1: 1.18205
Support level 2: 1.18100
Support level 3: 1.17995
Support level 4: 1.17890