Technical Analysis EUR/USD 12 October


Today's technical analysis for October 12, the EUR / USD pair is dominated by bearish sentiments to complete the consolidation in the Asian session, at strong resistance levels 1.18255 - 1.18570, therefore it is advisable to wait for the breakdown of the strong support level, which can open the way to the levels 1.17850 - 1.17245 within the London and New York sessions.

Thus, the best trading opportunities can be triggered before or during the London session at 1.18045 where the Fibonacci levels are pointing. The MACD histogram is still in the positive zone and above its signal line, continues to rise smoothly and thus gives a buy signal. Stochastic Oscillator is in the overbought zone and is giving an opposite signal. In an alternative scenario, you should wait for the breakdown of the strong resistance level 1.18360, then the targets of investors will be the levels 1.18520 - 1.19025.

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: 1.18150

Resistance level 1: 1.18255
Resistance level 2: 1.18360
Resistance level 3: 1.18465
Resistance level 4: 1.18570

Support level 1: 1.18045
Support level 2: 1.17940
Support level 3: 1.17835
Support level 4: 1.17630