EUR USD Technical Analysis 7 October 2020
EUR USD Technical Analysis: The EUR declined 0.40% against the USD on Tuesday and closed at 1.1733. Today in the Asian session, while EUR USD technical Analysis 7 October 2020 is preparing at 4:45 GMT, the pair is trading at 1.1754, which is 0.17% higher from yesterday’s closed.
The pair is expected to find support at 1.1707 and a fall through could take it to the next support level of 1.1695. The pair is expected to find its first resistance at 1.1765, and a rise through could take it to the next resistance level of 1.1785. Today’s expected trading range is between 1.1680 support and 1.1800 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.1707
Support 2: 1.1695
Support 3: 1.1680
Important Important resistance levels:
Resistance 1: 1.1765
Resistance 2: 1.1785
Resistance 3: 1.1800
EUR/USD buying opportunity for intraday trading on October 7, 2020
Buy near the support zones 1.1707 and 1.1695 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 7, 2020
Sell near the resistance zones 1.1765 and 1.1785 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), Ivey PMI (CAD), EIA Crude Oil Stocks Change (USD), FOMC Minutes (USD).