EUR USD Technical Analysis 18 August 2020
EUR USD Technical Analysis: The EUR rose 0.25% against the USD on Monday and closed at 1.1870. Today in the Asian session, while EUR USD technical Analysis 18 August 2020 is preparing at 5:15 GMT, the pair is trading at 1.1893, which is 0.20% higher from yesterday’s closed.
The pair is expected to find support at 1.1860 and a fall through could take it to the next support level of 1.1835. The pair is expected to find its first resistance at 1.1910, and a rise through could take it to the next resistance level of 1.1940. Today’s expected trading range is between 1.1785 support and 1.1960 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.1860
Support 2: 1.1835
Support 3: 1.1785
Important Important resistance levels:
Resistance 1: 1.1910
Resistance 2: 1.1940
Resistance 3: 1.1960
EUR/USD buying opportunity for intraday trading on August 18, 2020
Buy near the support zones 1.1860 and 1.1835 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 August 18, 2020
Sell near the resistance zones 1.1910 and 1.1940 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 Vice President de Guindos Speech (EUR), Building Permits (USD).