Technical Analysis EUR/USD 09 October

2020-10-09

Today's technical analysis for October 09, the EUR / USD pair is dominated by bullish sentiments to complete the consolidation in the Asian session, at strong support levels 1.17755 - 1.17440, therefore it is advisable to wait for the breakdown of the strong resistance level, which can open the way to the levels 1.18260 - 1.18765 within the London and New York sessions.

Thus, the best trading opportunities can be triggered before or during the London session from 1.17865 where the Fibonacci levels indicate. The MACD histogram is still in the positive zone, but crossed with its signal line and is not giving clear signals at the moment. Stochastic Oscillator has partially entered the overbought zone and is giving a buy signal. In an alternative scenario, one should wait for the breakdown of the strong support level 1.17650, then the targets of investors will be the levels 1.17250 - 1.16745.

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: 1.17760

Resistance level 1: 1.17865
Resistance level 2: 1.17970
Resistance level 3: 1.18075
Resistance level 4: 1.18180

Support level 1: 1.17755
Support level 2: 1.17650
Support level 3: 1.17545
Support level 4: 1.17440