EUR USD Technical Analysis 20 August 2020
EUR USD Technical Analysis: The EUR declined 0.77% against the USD on Wednesday and closed at 1.1838. Today in the Asian session, while EUR USD technical Analysis 20 August 2020 is preparing at 5:15 GMT, the pair is trading at 1.1823, which is 0.13% lower 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 1.1750. The pair is expected to find its first resistance at 1.1860, and a rise through could take it to the next resistance level of 1.1975. Today’s expected trading range is between 1.1675 support and 1.1950 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.1790
Support 2: 1.1750
Support 3: 1.1675
Important Important resistance levels:
Resistance 1: 1.1860
Resistance 2: 1.1915
Resistance 3: 1.1950
EUR/USD buying opportunity for intraday trading on August 20, 2020
Buy near the support zones 1.1790 and 1.1750 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 20, 2020
Sell near the resistance zones 1.1860 and 1.1915 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: Philadelphia Fed Manufacturing Index (USD), Philadelphia Fed Employment (USD), Initial Jobless Claims (USD).