empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

27.07.202007:41 Forex Analysis & Reviews: Technical Analysis of EUR/USD for July 27, 2020:

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical Market Outlook:

The EUR/USD pair has been moving up since the market opened after the weekend. The new temporary swing high was made at the level of 1.1725 after the market had broken out from the ascending channel. This price behavior might indicate up trend acceleration towards the 61% Fibonacci retracement of the last big wave down seen at the weekly time frame chart located at the level of 1.1822. However, the nearest support is seen at the level of 1.1655 and 1.1648. Please notice the overbought market conditions which might result in a temporary pull-back lower.

Weekly Pivot Points:

WR3 - 1.2024

WR2 - 1.1839

WR1 - 1.1768

Weekly Pivot - 1.1582

WS1 - 1.1509

WS2 - 1.1334

WS3 - 1.1257

Trading Recommendations:

The key long-term technical resistance is seen at the level of 1.1540 has been violated, so the EUR/USD pair confirmed the up trend. The next targets in the long-term are seen at the levels of 1.1813 - 1.1851. There is no indication of any bigger correction to come, so all the dips should be bought until the level of 1.1347 is clearly violated.

Exchange Rates 27.07.2020 analysis

Sebastian Seliga
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off