Technical Analysis EUR/USD 28 August

2019-08-28

Today’s technical analysis is on August 28, the EUR / USD pair is dominated by a bearish sentiment to complete the consolidation in the Asian session, at strong resistance levels of 1.10965 - 1.11380, therefore it is advisable to wait for the breakdown of a strong support level, which can open the way to levels 1.10525 - 1.10000 within the London and New York Sessions.

Thus, the best opportunities for placing deals can be initiated before or during the London session from 1.10855 where the Fibonacci levels indicate. The MACD histogram has crossed the zero line from top to bottom, is now located in the negative zone and below its signal line, continues to decline very smoothly and thereby gives a sell signal. Stochastic Oscillator is in the oversold zone and is generating a similar signal. In an alternative scenario, you should wait for the breakdown of the strong resistance level of 1.11070, then the levels of 1.11460 - 1.11950 will become the target of investors.

In fact, today's expected important economic news in particular can lead to significant volatility of key pairs, this can stimulate a significant movement to fluctuations during the London and New York sessions. This allows investors to take advantage of the Buy / Sell transactions from minimum / maximum levels throughout the day.

EUR / USD analysis

Current price: 1.10860

Resistance Level 1: 1.10965
Resistance Level 2: 1.11070
Resistance Level 3: 1.11275
Resistance Level 4: 1.11380

Support Level 1: 1.10855
Support Level 2: 1.10750
Support Level 3: 1.10645
Support Level 4: 1.10540