EUR USD Technical Analysis 28 October 2020
EUR USD Technical Analysis: The EUR declined 0.18% against the USD on Tuesday and closed at 1.1787. Today in the Asian session, while EUR USD technical Analysis 28 October 2020 is preparing at 4:45 GMT, the pair is trading at 1.1775, which is 0.11% lower from yesterday’s closed.
The pair is expected to find support at 1.1765 and a fall through could take it to the next support level of 1.1745. The pair is expected to find its first resistance at 1.1800, and a rise through could take it to the next resistance level of 1.1835. Today’s expected trading range is between 1.1690 support and 1.1865 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.1765
Support 2: 1.1745
Support 3: 1.1690
Important Important resistance levels:
Resistance 1: 1.1800
Resistance 2: 1.1835
Resistance 3: 1.1865
EUR/USD buying opportunity for intraday trading on October 28, 2020
Buy near the support zones 1.1765 and 1.1745 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 28, 2020
Sell near the resistance zones 1.1800 and 1.1835 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 Supervisory Board Chair Enria Speech (EUR), Retail Inventories m/m (USD), BoC Monetary Policy Report (CAD), BoC Interest Rate Decision (CAD), EIA Crude Oil Stocks Change (USD), BoC Monetary Policy Report Press Conference (CAD).