EUR USD Technical Analysis 2 September 2020
EUR USD Technical Analysis: The EUR declined 0.21% against the USD on Tuesday and closed at 1.1911. Today in the Asian session, while EUR USD technical Analysis 2 September 2020 is preparing at 5:15 GMT, the pair is trading at 1.1893, which is 0.15% lower from yesterday’s closed.
The pair is expected to find support at 1.1870 and a fall through could take it to the next support level of 1.1830. The pair is expected to find its first resistance at 1.1940, and a rise through could take it to the next resistance level of 1.1980. Today’s expected trading range is between 1.1760 support and 1.2000 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.1870
Support 2: 1.1830
Support 3: 1.1760
Important Important resistance levels:
Resistance 1: 1.1940
Resistance 2: 1.1980
Resistance 3: 1.2000
EUR/USD buying opportunity for intraday trading on September 2, 2020
Buy near the support zones 1.1870 and 1.1830 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 2, 2020
Sell near the resistance zones 1.1940 and 1.1980 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: ADP Nonfarm Employment Change (USD), BoE Deputy Governor Monetary Policy Broadbent Speech (GBP), EIA Crude Oil Stocks Change (USD).