Technical Analysis EUR/USD 15 October

2020-10-15

Today's technical analysis for October 15, the EUR / USD pair is dominated by bullish sentiments to complete the consolidation in the Asian session, at strong support levels 1.17385 - 1.17070, therefore it is advisable to wait for the breakdown of the strong resistance level, which can open the way to the levels 1.17890 - 1.18395 within the London and New York sessions.

Thus, the best trading opportunities can be triggered before or during the London session from 1.17595 where the Fibonacci levels are pointing. The MACD histogram is still in the negative zone and below its signal line, but it started moving almost parallel to the time axis and is not giving clear signals at the moment. Stochastic Oscillator is in the neutral zone and is not giving clear signals either. In an alternative scenario, you should wait for the breakdown of the strong support level 1.17280, then the targets of investors will be the levels 1.16880 - 1.16375.

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: 1.17490

Resistance level 1: 1.17595
Resistance level 2: 1.17700
Resistance level 3: 1.17805
Resistance level 4: 1.17910

Support level 1: 1.17385
Support level 2: 1.17280
Support level 3: 1.17175
Support level 4: 1.17070