Technical Analysis EUR/USD 08 September

2020-09-08

Today's technical analysis for September 08, the EUR / USD pair is dominated by bearish sentiments to complete the consolidation in the Asian session, at strong resistance levels 1.18185 - 1.18500, therefore it is advisable to wait for the breakdown of the strong support level, which can open the way to the levels 1.17685 - 1.17185 within the London and New York sessions.

Thus, the best trading opportunities can be triggered before or during the London session from 1.17975 where the Fibonacci levels are pointing. The MACD histogram is located in the negative zone and slightly below its signal line, continues to decline very smoothly and thus gives a sell signal. Stochastic Oscillator headed towards the oversold zone and is giving a similar signal. In an alternative scenario, you should wait for the breakdown of the strong resistance level 1.18290, then the targets of investors will be the levels 1.18690 - 1.19095.

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: 1.18080

Resistance level 1: 1.18185
Resistance level 2: 1.18290
Resistance level 3: 1.18395
Resistance level 4: 1.18500

Support level 1: 1.17975
Support level 2: 1.17870
Support level 3: 1.17765
Support level 4: 1.17660