Technical analysis

18 September 2020

19:11 The EUR / USD pair has regained its positions and is trading above the MA (200) H1

Today, the EUR / USD pair is trading in the range of $1.1840-70, after rising from $1.1735 to $1.1850 yesterday. On the hourly chart, the pair is trading above the moving average line MA (200) H1 ($1.1830) and on the four-hour chart it is testing MA (200) H4 ($1.1840). The session high of $1.1870 may keep EUR / USD from further growth. If it breaks through, the price may rise to $1.1900-20. MA (200) H1 ($1.1830) represents the support level. If this level is passed, the pair may follow a correction to $1.1780. The most likely range of price movement today may be hidden within the range of $1.1830-70



Resistance levels are at:  $1.1870, $1.1900-20, $1.1965

Support levels are at: $1.1830, $1.1780, $1.1735


The main scenario for promoting the pair  - break the session high of $1.1870 and then, it is possible to increase to $1.1900-20 (September 10 and 15 high)

An alternative scenario - if the MA (200) H1 ($1.1830) level is broken, the pair is likely to decline to $1.1780 (September 4 low)

The EUR / USD pair has regained its positions and is trading above the MA (200) H1 18.09.2020


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