Technical Analysis
16.09.2020, 04:02

EUR/USD remains above MA 200 H1

Yesterday the EUR/USD was trading lower and closed the day in the red around the $1.1845. Today it was trading in a narrow range of $1.1830-45, staying close to yesterday's closing price. On the hourly chart, EUR/USD is still trading above the MA line (200) H1 ($1.1830). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and while the EUR/USD remains above MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.

  • Resistances levels are at: $1.1900-15, $1.1965, $1.2010

  • Support levels are at: $1.1800-10, $1.1755, $1.1710

Probably, the main scenario - is continued growth to $1.1900 (Sep 15 high). An alternative scenario -  may be consolidation below MA 200 H1, followed by a decline to $1.1755 (Sep 9 low).

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