2018-09-03
Overview:
Pivot : 1.1612.
The EUR/USD pair will continue to rise from the level of 1.1612. The support is found at the level of 1.1612, which represents the 78.6% Fibonacci retracement level in the H1 time frame. The price is likely to form a double bottom. Today, the major support is seen at 1.1612, while immediate resistance is seen at 1.1697. Accordingly, the EUR/USD pair is showing signs of strength following a breakout of a high at 1.1697. So, buy at the level of 1.1697 with the first target at 1.1782 in order to test the daily resistance 1 and move further to 1.1865. Also, the level of 1.1865 is a good place to take profit because it will form a new double top. Amid the previous events, the pair is still in an uptrend; for that we expect the EUR/USD pair to climb from 1.1697 to 1.1865 today. At the same time, in case a reversal takes place and the EUR/USD pair breaks through the support level of 1.1612, a further decline to 1.1500 can occur, which would indicate a bearish market.
Technical analysis of USD/CAD for September 03, 2018
2018-09-03
Pivot : 1.1612.
The EUR/USD pair will continue to rise from the level of 1.1612. The support is found at the level of 1.1612, which represents the 78.6% Fibonacci retracement level in the H1 time frame. The price is likely to form a double bottom. Today, the major support is seen at 1.1612, while immediate resistance is seen at 1.1697. Accordingly, the EUR/USD pair is showing signs of strength following a breakout of a high at 1.1697. So, buy at the level of 1.1697 with the first target at 1.1782 in order to test the daily resistance 1 and move further to 1.1865. Also, the level of 1.1865 is a good place to take profit because it will form a new double top. Amid the previous events, the pair is still in an uptrend; for that we expect the EUR/USD pair to climb from 1.1697 to 1.1865 today. At the same time, in case a reversal takes place and the EUR/USD pair breaks through the support level of 1.1612, a further decline to 1.1500 can occur, which would indicate a bearish market.
Technical analysis of USD/CAD for September 03, 2018
2018-09-03
Overview:
The USD/CAD pair continues to move downwards from the level of 1.3094. The pair dropped from the level of 1.3094 to the bottom around 1.2893 then set around the spot of 1.3048. Today, the first resistance level is seen at 1.3094 followed by 1.3132, while daily support 1 is seen at 1.2974. According to the previous events, the USD/CAD pair is still moving between the levels of 1.3094 and 1.2974; for that, we expect a range of 120 pips (1.3094 - 1.2974). If the USD/CAD pair fails to break through the minor resistance level of 1.3094 , the market will decline further to 1.3048. This would suggest a bearish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 1.2974 with a view to testing the daily major support. However, if a breakout takes place at the resistance level of 1.3130, then this scenario may become invalidated.
EUR/USD analysis for September 03, 2018
2018-09-03
Recently, the EUR/USD pair has been trading sideways at the price of 1.1610. According to the M15 time – frame, I found that price rejected from the today's pivot level (1.1625), which is a sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. Watch for selling opportunities. The downward targets are set at the price of 1.1585, 1.1560 and at the price of 1.1520.
Resistance levels:
R1: 1.1665
R2: 1.1730
R3: 1.1770
Support levels:
S1: 1.1560
S2: 1.1520
S3: 1.1455
Trading recommendations for today: watch for potential selling opportunities.
The USD/CAD pair continues to move downwards from the level of 1.3094. The pair dropped from the level of 1.3094 to the bottom around 1.2893 then set around the spot of 1.3048. Today, the first resistance level is seen at 1.3094 followed by 1.3132, while daily support 1 is seen at 1.2974. According to the previous events, the USD/CAD pair is still moving between the levels of 1.3094 and 1.2974; for that, we expect a range of 120 pips (1.3094 - 1.2974). If the USD/CAD pair fails to break through the minor resistance level of 1.3094 , the market will decline further to 1.3048. This would suggest a bearish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 1.2974 with a view to testing the daily major support. However, if a breakout takes place at the resistance level of 1.3130, then this scenario may become invalidated.
EUR/USD analysis for September 03, 2018
2018-09-03
Recently, the EUR/USD pair has been trading sideways at the price of 1.1610. According to the M15 time – frame, I found that price rejected from the today's pivot level (1.1625), which is a sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. Watch for selling opportunities. The downward targets are set at the price of 1.1585, 1.1560 and at the price of 1.1520.
Resistance levels:
R1: 1.1665
R2: 1.1730
R3: 1.1770
Support levels:
S1: 1.1560
S2: 1.1520
S3: 1.1455
Trading recommendations for today: watch for potential selling opportunities.
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