EUR USD Technical Analysis 4 September 2020
EUR USD Technical Analysis: The EUR declined 0.01% against the USD on Thursday and closed at 1.1851. Today in the Asian session, while EUR USD technical Analysis 4 September 2020 is preparing at 5:15 GMT, the pair is trading at 1.1850, which is 0.01% lower from yesterday’s closed.
The pair is expected to find support at 1.1835 and a fall through could take it to the next support level of 1.1800. The pair is expected to find its first resistance at 1.1865, and a rise through could take it to the next resistance level of 1.1880. Today’s expected trading range is between 1.1765 support and 1.1910 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.1835
Support 2: 1.1800
Support 3: 1.1765
Important Important resistance levels:
Resistance 1: 1.1865
Resistance 2: 1.1880
Resistance 3: 1.1910
EUR/USD buying opportunity for intraday trading on September 4, 2020
Buy near the support zones 1.1835 and 1.1800 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
EUR/USD selling opportunity for intraday trading on September 4, 2020
Sell near the resistance zones 1.1865 and 1.1880 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.
Economic events to watch for the next 24 hours: BoE MPC Member Saunders Speech (GBP), Employment Change (CAD), Unemployment Rate (CAD), Average Hourly Earnings m/m (USD), Private Nonfarm Payrolls (USD), ISM Non-Manufacturing PMI (USD)