EUR USD Technical Analysis 5 March 2021
EUR USD Technical Analysis: The EUR declined 0.77% against the USD on Thursday and closed at 1.1969. Today in the Asian session, while EUR USD technical Analysis 28 December 2020 is preparing at 4:45 GMT, the pair is trading at 1.1931, which is 0.31% lower from yesterday’s closed.
The pair is expected to find support at 1.1915 and a fall through could take it to the next support level of 1.1900. The pair is expected to find its first resistance at 1.1950, and a rise through could take it to the next resistance level of 1.2000. Today’s expected trading range is between 1.1875 support and 1.2035 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.1915
Support 2: 1.1900
Support 3: 1.1875
Important Important resistance levels:
Resistance 1: 1.1950
Resistance 2: 1.2000
Resistance 3: 1.2035
EUR/USD buying opportunity for intraday trading on March 5, 2021
Buy near the support zones 1.1915 and 1.1900 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 March 5, 2021
Sell near the resistance zones 1.1950 and 1.2000 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: Trade Balance (CAD), Trade Balance (USD), Unemployment Rate (USD), Nonfarm Payrolls (USD), Private Nonfarm Payrolls (USD), Ivey PMI (CAD).