Technical Analysis
16.10.2020, 11:17

EUR / USD is trading slightly above a two-week low

Today, the EUR/USD pair is trading mainly with growth in the range of $1.1695-$1.1730, after falling yesterday to a two-week low of $1.1690. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.1760) and on the four-hour chart below MA (200) H4 ($1.1775). If the pair gains a foothold below these levels, a new downtrend is likely to start forming. Until this happens, it may be worth sticking to the North direction in trading, and at the end of the correction, you should look for exit points to buy. The most likely range of price movement today may be hidden within the range of $1.1690-1.1770.

Resistance levels are at:  $1.1730, $1.1760-70, $1.1830

Support levels are at: $1.1690-1.1700, $1.1610, $1.1540

The main scenario for promoting the pair  - breaking the session high of $1.1730 and rising to $1.1760-70 (October 14 high, MA (200) H1)

An alternative scenario - if the $1.1690-1.1700 area breaks (September 30 and October 15 lows), the pair may decline to $1.1610 (September 25 lows).

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location