Technical Analysis EUR/USD 16 September


Today's technical analysis for September 16, the pair EUR / USD is dominated by bearish sentiments to complete the consolidation in the Asian session, at strong resistance levels 1.18575 - 1.18890, therefore it is advisable to wait for the breakdown of the strong support level, which can open the way to the levels 1.18070 - 1.17565 within the London and New York sessions.

Thus, the best trade placement opportunities can be triggered before or during the London session from 1.18365 where the Fibonacci levels are pointing. 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 has reached the border of the oversold zone and is giving a similar signal. In an alternative scenario, you should wait for the breakdown of the strong resistance level 1.18680, then the targets of investors will be the levels 1.19080 - 1.19585.

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: 1.18470

Resistance level 1: 1.18575
Resistance level 2: 1.18680
Resistance level 3: 1.18785
Resistance level 4: 1.18890

Support level 1: 1.18365
Support level 2: 1.18260
Support level 3: 1.18155
Support level 4: 1.18050