EUR USD Technical Analysis 31 August 2020
EUR USD Technical Analysis: The EUR rose 0.71% against the USD on Thursday and closed at 1.1905. Today in the Asian session, while EUR USD technical Analysis 31 August 2020 is preparing at 5:15 GMT, the pair is trading at 1.1898, which is 0.06% lower from yesterday’s closed.
The pair is expected to find support at 1.1880 and a fall through could take it to the next support level of 1.1740. The pair is expected to find its first resistance at 1.1945, and a rise through could take it to the next resistance level of 1.1965. Today’s expected trading range is between 1.1770 support and 1.2000 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.1880
Support 2: 1.1740
Support 3: 1.1770
Important Important resistance levels:
Resistance 1: 1.1945
Resistance 2: 1.1965
Resistance 3: 1.2000
EUR/USD buying opportunity for intraday trading on August 31, 2020
Buy near the support zones 1.1880 and 1.1740 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 31, 2020
Sell near the resistance zones 1.1945 and 1.1965 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: Fed Vice Chairman Clarida Speech (USD),