06.10.202009:05 Forex Analysis & Reviews: EUR/USD Flirting With Critical Resistance

Esta información se proporciona a clientes minoristas y profesionales como parte de comunicación de marketing. No contiene y no debe interpretarse como asesoramiento o recomendación de inversión o una oferta o solicitud para participar en cualquier transacción o estrategia en instrumentos financieros. El desempeño pasado no garantiza o predice el desempeño futuro. Instant Trading EU Ltd. no asume ninguna representación ni responsabilidad sobre la precisión o integridad de la información proporcionada, o cualquier pérdida que surja de cualquier inversión basada en el análisis, pronóstico u otra información proporcionada por un empleado de la Compañía o de otra manera. El descargo de responsabilidad completo está disponible aquí.

The pair is trading higher at 1.1786 level after ignoring the 1.1753 static resistance. EUR/USD has changed little in the early morning after reaching 1.18 psychological level. The bullish pressure is high in the short term, so a valid breakout above this level validates further growth.

EUR/USD rallied after yesterday better-than-expected eurozone's data. Still, the greenback could strike back versus its rivals if the USDX gives birth to a new bullish momentum as the US ISM Services PMI rose to 57.8, beating the 56.3 estimates.

I told you yesterday that EUR/USD would reach 1.18 and the up sloping line if it closes above 1.1753 level. Technically, the quote was expected to register a deeper drop after the H&S pattern was validated.

The pattern is still intact as long as the pair stays under 1.18 and below the former channel's support. A valid breakout above these levels should activate a strong bullish momentum towards 1.2 psychological level.

USDX could recover and jump higher if it stabilizes somewhere above the 93.50 level. A USDX's drop towards 92.55 support should push EUR/USD up to 1.2.

EUR/USD Trading Tips

Buy a valid breakout (close and retest) of 1.18. The 1.2 level and the channel's upside line are seen as targets.

A false breakout with great separation above the immediate resistance levels or a major bearish engulfing suggest selling. Also, a drop under 1.1694 brings a short opportunity with a potential downside target at 1.1495.

Volver a la lista

Abra una cuenta de operaciones

¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.