Technical Analysis EUR/USD 09 September

2020-09-09

Today's technical analysis for 09 September, the EUR / USD pair is dominated by bearish sentiments to complete the consolidation in the Asian session, at strong resistance levels 1.17875 - 1.18190, therefore it is advisable to wait for the breakdown of the strong support level, which can open the way to the levels 1.17370 - 1.16865 within the London and New York sessions.

Thus, the best trade placement opportunities can be triggered before or during the London session from 1.17665 where the Fibonacci levels are pointing. The MACD histogram is in the negative zone and below its signal line, continues to decline smoothly and thus gives a sell signal. Stochastic Oscillator has partially entered the oversold zone and is giving a similar signal. In an alternative scenario, you should wait for the breakdown of the strong resistance level 1.17980, then the targets of investors will be the levels 1.18380 - 1.18885.

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: 1.17770

Resistance level 1: 1.17875
Resistance level 2: 1.17980
Resistance level 3: 1.18085
Resistance level 4: 1.18190

Support level 1: 1.17665
Support level 2: 1.17560
Support level 3: 1.17455
Support level 4: 1.17350