Technical Analysis EUR/USD 29 September

2020-09-29

Today's technical analysis for September 29, the EUR / USD pair is dominated by bullish sentiments to complete the consolidation in the Asian session, at strong support levels 1.16645 - 1.16330, therefore it is advisable to wait for the breakdown of the strong resistance level, which can open the way to the levels 1.17150 - 1.17655 within the London and New York sessions.

Thus, the best trading opportunities can be triggered before or during the London session from 1.16855 where the Fibonacci levels are pointing. The MACD histogram is still in the negative zone and above its signal line, continues to grow intensively, and thus gives a buy signal. Stochastic Oscillator has partially entered the overbought zone and is giving a similar signal. In an alternative scenario, you should wait for the breakdown of the strong support level 1.16540, then the targets of investors will be the levels 1.16140 - 1.15635.

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: 1.16750

Resistance level 1: 1.16855
Resistance level 2: 1.16960
Resistance level 3: 1.17065
Resistance level 4: 1.17170

Support level 1: 1.16645
Support level 2: 1.16540
Support level 3: 1.16435
Support level 4: 1.16330