Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD is under pressure after ECB head Lagarde expressed concerns about inflation, while demand for a safe US dollar is growing after the first presidential debate.
EUR/USD, 30 min
Pivot: 1.1746
Analysis:
Provided that the currency pair is traded above 1.1715, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.1746
- Take Profit 1: 1.1775
- Take Profit 2: 1.1795
Alternative scenario:
In case of breakdown of the level 1.1715, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.1715
- Take Profit 1: 1.1685
- Take Profit 2: 1.1665
Comment:
RSI is bullish and indicates an uptrend within a day.
Key levels:
Resistance | Support |
1.1805 | 1.1715 |
1.1795 | 1.1685 |
1.1775 | 1.1665 |
EUR/USD, D1
Pivot: 1.1703
Analysis:
While the price is below 1.1850, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1703
- Take Profit 1: 1.1610
- Take Profit 2: 1.1500
Alternative scenario:
If the level 1.1850 is broken-out, follow the recommendations below.
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1850
- Take Profit 1: 1.2015
- Take Profit 2: 1.2150
Comment:
RSI shows the continuation of a downtrend in a medium term.
Key levels:
Resistance | Support |
1.2150 | 1.1610 |
1.2015 | 1.1500 |
1.1850 | 1.1370 |
We also advise you to pay attention to the following currency pairs for intraday trading:
USD/CAD – sell below 1.3330 with 1.3255 and 1.3230 targets as Take Profit. Alternative scenario - if the level 1.3330 is broken-out, buy with the TP 1.3350 and 1.3370.
GBP/USD - long positions above 1.2895 with 1.2980 and 1.3000 targets as Take Profit. Alternative scenario - if the level of 1.2895 is broken-down, sell with the targets 1.2875 and 1.2840 as Take Profit.
AUD/USD – buy above 0.7150 with 0.7220 and 0.7240 as Take Profit targets. Alternative scenario - if the level of 0.7150 is broken-down, you should consider selling with the targets 0.7130 and 0.7105 as Take Profit.