EUR USD Technical Analysis 6 October 2020
EUR USD Technical Analysis: The EUR rose 0.63% against the USD on Monday and closed at 1.1785. Today in the Asian session, while EUR USD technical Analysis 6 October 2020 is preparing at 4:45 GMT, the pair is trading at 1.1784, which is 0.01% lower from yesterday’s closed.
The pair is expected to find support at 1.1765 and a fall through could take it to the next support level of 1.1727. The pair is expected to find its first resistance at 1.1820, and a rise through could take it to the next resistance level of 1.1865. Today’s expected trading range is between 1.1665 support and 1.1865 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.1765
Support 2: 1.1727
Support 3: 1.1695
Important Important resistance levels:
Resistance 1: 1.1820
Resistance 2: 1.1865
Resistance 3: 1.1900
EUR/USD buying opportunity for intraday trading on October 6, 2020
Buy near the support zones 1.1765 and 1.1727 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 October 6, 2020
Sell near the resistance zones 1.1820 and 1.1865 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: ECB President Lagarde Speech (EUR), Trade Balance (CAD), Trade Balance (USD), Fed Chair Powell Speech (USD).