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09.10.202011:30 Forex Analysis & Reviews: Don't sell in the EUR/USD pair before this level!

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.

The euro reached the same peak yesterday (1.17820), forming a double top in the daily chart:

Exchange Rates 09.10.2020 analysis

Based on this, it is likely that the EUR / USD pair will enter a pullback, after which we can start working for an increase, but this time we may be able to reach a quote higher than 1.17820:

Exchange Rates 09.10.2020 analysis

Such a strategy will bring good profit, about 1: 1.

Of course, we still have to monitor the risk in order to avoid any losses.

Trading in this financial market is very precarious, but also very profitable as long as we use the right approach.

Best of luck!

Andrey Shevchenko
Analytical expert of InstaForex
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