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- EUR / USD is trading near a two-week high
EUR / USD is trading near a two-week high
Today, the EUR/USD pair is trading in the range of $1.1765-1.1800 - near a two-week high, and is trading above the MA (200) H1 moving average line ($1.1705). But on the four-hour chart, the pair is testing MA (200) H4 ($1.1800). If EUR/USD gains a foothold above these levels, a new uptrend may begin to form. Until this happens, it is worth continuing to adhere to the southern direction in trading and at the end of the correction, it may be worth looking for exit points to sell. The resistance of $1.1800 has kept the pair from further growth so far. If it breaks through, EUR/USD may rise to $1.1870. If the session low of $1.1765 is broken, the pair may fall to $1.1705. The most likely range of price movement today may be hidden within the range of $1.1765-1.1800.
⦁ Resistance levels are at: $1.1800, $1.1870, $1.1920
⦁ Support levels are at: $1.1765, $1.1705, $1.1685
The main scenario for promoting the pair - correction, break of the session low of $1.1765 and then the pair may decline to $1.1705 (October 5 low, MA (200) H1)
An alternative scenario - breakout of the resistance $1.1800 (October 5 high, session high) and then the pair may rise to $1.1870 (September 18-21 high)
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