EUR USD Technical Analysis 21 October 2020
EUR USD Technical Analysis: The EUR rose 0.44% against the USD on Tuesday and closed at 1.1821. Today in the Asian session, while EUR USD technical Analysis 21 October 2020 is preparing at 4:45 GMT, the pair is trading at 1.1857, which is 0.30% higher from yesterday’s closed.
The pair is expected to find support at 1.1790 and a fall through could take it to the next support level of 1.1760. The pair is expected to find its first resistance at 1.1870, and a rise through could take it to the next resistance level of 1.1900. Today’s expected trading range is between 1.1760 support and 1.1915 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.1790
Support 2: 1.1760
Support 3: 1.1745
Important Important resistance levels:
Resistance 1: 1.1870
Resistance 2: 1.1900
Resistance 3: 1.1915
EUR/USD buying opportunity for intraday trading on October 21, 2020
Buy near the support zones 1.1790 and 1.1760 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 21, 2020
Sell near the resistance zones 1.1870 and 1.1900 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), BoE Deputy Governor Markets and Banking Ramsden Speech (GBP), CPI m/m (CAD), Retail Sales m/m (CAD), Core Retail Sales m/m (CAD), EIA Crude Oil Stocks Change (USD).