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 - 1.1200
Analysis:
Provided that the currency pair is traded below 1.1200, follow the recommendations below:
The timeframe: 30 min
Recommendation: short position
Entry point: 1.1180
Take Profit 1: 1. 1050
Take Profit 2: 1. 0990
Alternative scenario:
In case of breakdown of the level 1. 1200, follow the recommendations below:
The timeframe: 30 min
Recommendation: long position
Entry point: 1. 1200
Take Profit 1: 1. 1250
Take Profit 2: 1. 1285
Comment:
RSI shows downward movement. EUR/USD may fall by 100 pips during the day.
Key levels:
Resistance
Support
1.1285
1.1055
1.1250
1.1025
1.1200
1.0990
EUR/USD, D1
Pivot: 1.1184
Analysis:
While the price is below 1. 1310, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 1.1184
Take Profit 1: 1. 1055
Take Profit 2: 1. 0980
Alternative scenario:
If the level 1. 1310 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: long position
Entry point: 1.1310
Take Profit 1: 1.1460
Take Profit 2: 1.565
Comment:
RSI shows the absence of upward trend. The EUR/USD might fall by 129-204 pips after a false breakdown of 1.1451.
Key levels:
Resistance
Support
1.1565
1.1055
1.1460
1.0980
1.1310
1.0880
We also advise you to pay attention to the following currency pairs for intra-day trading:
NZD/USD – buy above 0.6032 with 0.6086 and 0.6098 as Take Profit targets. Alternative scenario - if the level of 0.6032 is broken-down, you should consider selling with the targets 0.6012 and 0.6001 as Take Profit. GBP/USD - short positions above 1.2425 with 1. 2255 and 1.2165 targets as Take Profit. Alternative scenario - if the level of 1.2425 is broken-down, buy with the targets 1.520 and 1.2620 as Take Profit. USD/CHF - sell below 0.9525 with 0.9435 and 0.9400 targets as Take Profit. Alternative scenario - if the level 0.9525 is broken-down, buy with the TP 0.9560 and 0.9600.
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