U.S. President Donald Trump has announced a 30-day ban on travel to the U.S. from Europe in an attempt to stop the further spread of the virus. EUR/USD, after a bullish rally, has moved into a phase of correction and is being traded at 1.1205.
EUR/USD, 30 min
Pivot - 1.1206
Analysis:
Provided that the currency pair is traded above 1.1150, follow the recommendations below:
The timeframe: 30 min
Recommendation: - long position
Entry point: 1. 1206
Take Profit 1: - 1. 1250
Take Profit 2: - 1. 1290
Alternative scenario:
In case of breakdown of the level 1. 1150, follow the recommendations below:
The timeframe: 30 min
Recommendation: long position
Entry point: 1. 1150
Take Profit 1: 1. 1100
Take Profit 2: 1. 1055
Comment:
RSI shows upward movement. EUR/USD may fall by 44-84 pips.
Key levels:
Resistance
Support
1.1325
1.1150
1.1290
1.1100
1.1250
1.1055
EUR/USD, D1
Pivot: 1.1145
Analysis:
While the price is above 1. 1451, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 1.1145
Take Profit 1: 1. 0990
Take Profit 2: 1. 0880
Alternative scenario:
If the level 1. 1451 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: long position
Entry point: 1.1451
Take Profit 1: 1.1565
Take Profit 2: 1.1700
Comment:
RSI shows the possibility of a descending momentum. EUR/USD might fall by 348 pips after a false break-down of 1.1451.
Key levels:
Resistance
Support
1.1700
1.1100
1.1565
1.0990
1.1451
1.0880
We also advise you to pay attention to the following currency pairs for intra-day trading:
NZD/USD – buy above 0.6106 with 0.6106 and 0.6173 as Take Profit targets. Alternative scenario - if the level of 0.6106 is broken-down, you should consider selling with the targets 0.6086 and 0.6074 as Take Profit. GBP/USD - short positions above 1.2630 with 1. 2485 and 1.2420 targets as Take Profit. Alternative scenario - if the level of 1.2630 is broken-down, buy with the targets 1.2695 and 1.2775 as Take Profit. USD/CHF - sell below 0.9480 with 0.9400 and 0.9370 targets as Take Profit. Alternative scenario - if the level 0.9480 is broken-down, buy with the TP 0.9515 and 0.9550.
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