EUR USD Technical Analysis 20 October 2020
EUR USD Technical Analysis: The EUR rose 0.43% against the USD on Monday and closed at 1.1769. Today in the Asian session, while EUR USD technical Analysis 20 October 2020 is preparing at 4:45 GMT, the pair is trading at 1.1771, which is 0.02% higher from yesterday’s closed.
The pair is expected to find support at 1.1745 and a fall through could take it to the next support level of 1.1717. The pair is expected to find its first resistance at 1.1790, and a rise through could take it to the next resistance level of 1.1805. Today’s expected trading range is between 1.1690 support and 1.1830 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.1745
Support 2: 1.1717
Support 3: 1.1690
Important Important resistance levels:
Resistance 1: 1.1790
Resistance 2: 1.1805
Resistance 3: 1.1830
EUR/USD buying opportunity for intraday trading on October 20, 2020
Buy near the support zones 1.1745 and 1.1717 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 20, 2020
Sell near the resistance zones 1.1790 and 1.1805 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 Vlieghe Speech (GBP), Housing Starts (USD), Building Permits (USD).