EUR USD Technical Analysis 12 August 2020
EUR USD Technical Analysis: The EUR rose 0.02% against the USD on Tuesday and closed at 1.1739. Today in the Asian session, while EUR USD technical Analysis 12 August 2020 is preparing at 5:15 GMT, the pair is trading at 1.1746, which is 0.05% higher from yesterday’s closed.
The pair is expected to find support at 1.1705 and a fall through could take it to the next support level of 1.1680. The pair is expected to find its first resistance at 1.1755, and a rise through could take it to the next resistance level of 1.1790. Today’s expected trading range is between 1.1650 support and 1.1800 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.1705
Support 2: 1.1680
Support 3: 1.1650
Important Important resistance levels:
Resistance 1: 1.1755
Resistance 2: 1.1790
Resistance 3: 1.1800
EUR/USD buying opportunity for intraday trading on August 12, 2020
Buy near the support zones 1.1705 and 1.1680 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 12, 2020
Sell near the resistance zones 1.1755 and 1.1790 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: FOMC Member Rosengren Speech (USD). EIA Crude Oil Stocks Change (USD).