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19.10.202013:29 Forex Analysis & Reviews: EUR/USD analysis for October 19 2020 - First upward target at the price of 1.1770 has been reached. Potential for the second target at 1.1825

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EU vice president of interinstitutional relations, Maros Sefcovic, remarks

Ready to work until the last minute to get a good agreement for both sides
Any agreement must be fair for both sides

Some token remarks by Sefcovic, as the EU mainly wants to communicate that they are ready to head back to the negotiating table this week. But without a will to compromise on both sides, it is tough to see how much progress there will be at the end of the day.

Further Development

Analyzing the current trading chart of EUR/USD, I found that our first target at the price of 1,1770 from my Friday's analysis has been reached.

I see potential for the test of the second upside target at the price of 1,1825 due to strong upside momentum and fresh money flow to the upside.

My advice is to watch for the pullbacks on the intraday frames and look for long positions.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Cocoa and Silver today and on the bottom VIX and Orange Juice.

EUR is holding well on the relative strength list and it is one of the strongest currencies.

Key Levels:

Resistance: 1,1770, 1,1825

Support level: 1,1700

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