For Traders

Analytical Reviews

Technical analysis

30.09.202017:14 Forex Analysis & Reviews: September 30, 2020 : EUR/USD daily technical review and trade recommendations.

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.

By the end of August, the EURUSD pair has achieved a temporary breakout above the previously mentioned resistance zone located around 1.1900.

However, Significant SELLING pressure was applied around 1.2000 where the upper limit of the movement pattern came to meet the pair.

That's why, the EUR/USD pair has demonstrated a quick bearish decline towards 1.1800 then 1.1770-1.1750 which failed to offer sufficient Support for the EUR/USD.

Earlier Last week, a breakout to the downside was executed below the price level of 1.1750 (Lower limit of the depicted movement pattern). Hence intraday technical outlook has turned into bearish.

Intraday traders should be waiting for any pullback to the upside towards the recently-broken key-zone (1.1750-1.1770) for a valid SELL Entry.

On the other hand, a breakout above 1.1820 (Exit Level) will probably enable further upside movement towards 1.1860-1.1900.

Back to the list

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.