Technical Analysis EUR/USD 13 October

2020-10-13

Today's technical analysis is for October 13, the EUR / USD pair is dominated by bearish sentiments to complete the consolidation in the Asian session, at strong resistance levels 1.18085 - 1.18400, therefore it is advisable to wait for the breakdown of the strong support level, which can open the way to the levels 1.17580 - 1.17075 within the London and New York sessions.

Thus, the best opportunities for placing trades can be initiated before or during the London session from 1.17875 where the Fibonacci levels indicate. The MACD histogram is still in the positive zone, but already below its signal line, continues to decline smoothly and thus gives a sell signal. Stochastic Oscillator is in the neutral zone and is giving a similar signal. In an alternative scenario, you should wait for the breakdown of the strong resistance level 1.18190, then the targets of investors will be the levels 1.18590 - 1.18995.

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: 1.17980

Resistance level 1: 1.18085
Resistance level 2: 1.18190
Resistance level 3: 1.18295
Resistance level 4: 1.18400

Support level 1: 1.17875
Support level 2: 1.17770
Support level 3: 1.17665
Support level 4: 1.17560