EUR USD Technical Analysis 8 October 2020
EUR USD Technical Analysis: The EUR rose 0.23% against the USD on Wednesday and closed at 1.1760. Today in the Asian session, while EUR USD technical Analysis 8 October 2020 is preparing at 4:45 GMT, the pair is trading at 1.1773, which is 0.11% higher from yesterday’s closed.
The pair is expected to find support at 1.1760 and a fall through could take it to the next support level of 1.1728. The pair is expected to find its first resistance at 1.1785, and a rise through could take it to the next resistance level of 1.1800. Today’s expected trading range is between 1.1700 support and 1.1800 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1.1760
Support 2: 1.1728
Support 3: 1.1700
Important Important resistance levels:
Resistance 1: 1.1785
Resistance 2: 1.1800
Resistance 3: 1.1840
EUR/USD buying opportunity for intraday trading on October 8, 2020
Buy near the support zones 1.1760 and 1.1728 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 8, 2020
Sell near the resistance zones 1.1785 and 1.1800 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: BoE Governor Bailey Speech (GBP), BoC Governor Macklem Speech (CAD), Initial Jobless Claims (USD).