Technical analysis

04 October 2021

18:59 EUR/USD is trading near the lows of early November 2020

Today, the EUR/USD pair is trading in the range of $1.1590-1.1615 - near the lows of early November 2020 ($1.1560). Earlier last week, the pair fell to the lows of July 2020. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.1670) and on the four-hour chart - below MA (200) H4 ($1.1755). In this situation, it is probably necessary to stick to the southern direction in trading, and, perhaps, it is worth looking for exit points for sale, at the end of the correction.


Resistance levels are: $1.1670, $1.1705-25, $1.1755

Support levels are: $1.1560, $1.1540, $1.1505

 

The main scenario for promoting the pair  — correction and there may be a decrease to $1.1560 (September 30 and October 1 low)

An alternative scenario — the pair may grow towards MA (200) H1 ($1.1670)

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