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20.08.201916:23 Forex Analysis & Reviews: EUR/USD for August 20,2019 - Strong rejection of the support

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Technical view:

EUR did fake breakout of the swing low at the price of 1.1066 and strong rejection, which is sign for me that there is high chance for further upside. EUR is trading inside of the trading range between the price of 1.066 (support) and 1.1117 (resistance).

Blue rectangles – Range boundaries

Yellow rectangle – Resistance

Gold gave us a buy signal after the fake breakout of the support (1.1066).Now EUR is trying to back towards the top of the range (1.1117), which is the chance for us to position ourselves on the upside. There was a divergence on the MACD oscillator, which is one of the reasons of the upside momentum. As long as the EUR is trading above the 1.1066, watch for buying opportunities with the targets at 1.1114 and 1.1132.

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