Technical analysis of EUR/USD for September 17, 2020

Trading 17 sept 2020 Donner votre avis

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Overview:

The EUR/USD had tested the double bottom at the level of 1.1153. Overview: Today, the major support is seen at 1.1753, while immediate resistance is seen at 1.1883. But the current price is seen at 1.1814. The EUR/USD pair will continue to rise from the level of 1.1814. The support is found at the level of 1.1814, which represents the 23.6% Fibonacci retracement level in the H1 time frame. The price is likely to form a double bottom. Accordingly, the EUR/USD pair is showing signs of strength following a breakout of a high at 1.1850. So, buy above the level of 1.1850 with the first target at 1.1883 in order to test the daily resistance 1 and move further to 1.1912. Also, the level of 1.1954 is a good place to take profit because it will form the third resistance. Amid the previous events, the pair is still in an uptrend; for that we expect the EUR/USD pair to climb from 1.1814 to 1.1954 today. At the same time, in case a reversal takes place and the EUR/USD pair breaks through the support level of 1.1753, a further decline to 1.1695 can occur, which would indicate a bearish market.

The material has been provided by InstaForex Company - www.instaforex.com

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