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EUR USD Technical Analysis October 2, 2018

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EUR USD Technical Analysis October 2, 2018

The EUR declined 0.46% against the USD on Monday and closed at 1.1562. Today in the European session while EUR USD technical analysis October 2, 2018 is preparing at 10:45 GMT, the pair is trading at 1.1515, which is 0.40% lower from yesterday’s closed.

In European session, data showed that In August 2018, the unemployment rate in the Eurozone fell from 8.2% in the previous month and 9% a year ago to 8.1%. As the number of unemployed continues to decline, this is the lowest unemployment rate since November 2008.

In US session, data showed that the US Institute of Supply Management’s Manufacturing Purchasing Managers Index fell to 59.8 in September 2018 from 61.3 in August, the highest level since May 2004. The data is slightly below market expectations of 60.1 as new orders and inventories increase less.

EUR USD technical analysis October 2, 2018
EUR USD technical analysis October 2, 2018

EUR USD technical analysis October 2, 2018

The pair is expected to find support at 1.1480 and a fall through could take it to the next support level of 1.1500. The pair is expected to find its first resistance at 1.1613, and a rise through could take it to the next resistance level of 1.11650. For today the expected trading range is between 1.1480, Support and 1.1613 Resistance.

The expected trend for today is Bearish

Supports Levels: Support 1: 1.1552, Support 2: 1.1527, Support3: 1.1480
Resistance Levels: Resistance 1: 1.1613, Resistance 2: 1.1650, Resistance 3: 1.1675

Previous day`s high: 1.1623
Previous day`s low: 1.1562

EUR/USD Buying Opportunity for Intraday Trading October 2, 2018

Buy near the support area 1.1500 and 1.1480 as soon as you get reversal candlesticks patterns like Hammer, Bullish Englufing, Long Leged Doji or Dragonfly Doji, using stop loss 2 pips below the reversal candlestick & keep target equal to stop loss.

EUR/USD Selling Opportunity for Intraday Trading October 2, 2018

Sell near the resistance area 1.1613 and 1.1650 as soon as you get reversal candlesticks patterns like Shooting Star, Bearish Englufing, Long Leged Doji or Gravestone Doji, using stop loss 2 pips above the reversal candlestick & keep target equal to stop loss.

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2 Comments
  1. Bilal says

    Thank you I’m your student from Pakistan, I started trading after getting tips and lessons from your YouTube channel, you’re doing a great job.

    1. Easy Trading Tips says

      Thank you so much Bilal ji for your interest

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