Technical Analysis EUR/USD 14 October

2020-10-14

Today's technical analysis is for October 14, the EUR / USD pair is dominated by bearish sentiments to complete the consolidation in the Asian session, at strong resistance levels 1.17575 - 1.17890, therefore it is advisable to wait for the breakdown of the strong support level, which can open the way to the levels 1.17070 - 1.16565 within the London and New York sessions.

Thus, the best trading opportunities can be triggered before or during the London session from 1.17365 where the Fibonacci levels indicate. The MACD histogram crossed the zero line from top to bottom tonight, is now in the negative zone and below its signal line, continues to smoothly decline and thus gives a sell signal. Stochastic Oscillator is in the oversold zone and is forming an opposite signal, although it is not clear yet. In an alternative scenario, you should wait for the breakdown of the strong resistance level 1.17680, then the targets of investors will be the levels 1.18080 - 1.18585.

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: 1.17470

Resistance level 1: 1.17575
Resistance level 2: 1.17680
Resistance level 3: 1.17785
Resistance level 4: 1.17890

Support level 1: 1.17365
Support level 2: 1.17260
Support level 3: 1.17155
Support level 4: 1.17050