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29.09.202011:21 Forex Analysis & Reviews: Technical recommendations for EUR/USD and GBP/USD on September 29

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.

EUR/USD

Exchange Rates 29.09.2020 analysis

We are witnessing the next appearance of a corrective movement, since the end of September is approaching. This month brought a victory in the confrontation over 1,1740 bearish players, and now, it will most likely be hard to maintain the result. Under the current conditions, it is advisable for short-term players to consolidate their position in the bearish zone relative to the monthly Ichimoku cloud, while maintaining support for the weekly short-term trend and the daily dead cross. The key resistance levels that allow this to happen are located at 1.1740-1.1811. Closing the month above these limits negates bears' current achievements. On another note, the nearest bearish pivot points remains a fairly wide support zone of 1.1567 (the lower limit of the daily cloud) - 1.1521 (weekly Fibo Kijun) - 1.1486 (monthly Fibo Kijun), when the correction is completed and the decline continues.

Exchange Rates 29.09.2020 analysis

There is a full-fledged upward correction in the smaller time frames. The bulls are now trying to change the current balance of power and take full advantage of H1. To do this, they need to securely consolidate above the key levels. Today, they have united in the area of 1.1653-69 (weekly long-term trend and the central pivot level) and reverse the moving average in their direction. On the other hand, the next upward targets within the day can be noted at 1.1692 (R1) - 1.1718 (R2) - 1.1757 (R3). If the bulls fail and the pair returns below the key levels (1.1653-69) on H1, then the bears' attention will be focused on the recovery of the downward trend (1.1612), then the support of 1.1588 (S2) and 1.1562 (S3) may be useful.

GBP/USD

Exchange Rates 29.09.2020 analysis

The strength of the support levels reached has completed its tasks. The emerging slow down turned into a full-fledged correction. Yesterday, the daily Tenkan (1.2840) and the influence zone of the weekly Fibo Kijun (1.2943) were tested by the bulls. Further, the most important upward pivot points are 1.3075 (weekly Tenkan + daily Kijun) and 1.32 (historical benchmark + final level of the Ichimoku daily dead cross). If bulls want to enter the September history, then they need to take care of the size of the lower shadow of the monthly candle for September by the end of the month. For the opponent, what is important now is not just a bearish mood, but also the most profitable closing of September. To do this, it is suggested to close below the reached support levels of 1.2777 (weekly Kijun + lower limit of the daily cloud) - 1.2711 (monthly Fibo Kijun) - 1.2612 (weekly Fibo Kijun).

Exchange Rates 29.09.2020 analysis

Yesterday, the bulls reached the last limit of the classic pivot levels (1.2921), but failed to further rise. Now, the bullish advantage remains in the smaller time frames, but the pair is in the downward correction zone. On the other hand, the key supports for this correction are currently located at 1.2836 (central pivot level) and 1.2762 (weekly long-term trend). A breakdown below will change the current balance of power and bring back bearish sentiment. Meanwhile, support levels can be noted today at 1.2744 - 1.2657 - 1.2565, while resistances are at 1.2923 - 1.3015 - 1.3102.

Ichimoku Kinko Hyo (9.26.52), Pivot Points (Classical), Moving Average (120)

Desarrollado por un Evangelos Poulakis
experto de análisis de InstaForex
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