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Techical analis in EURUSD 19/08/2020

19 August 2020, 08:18

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For this analysis I use iPump indicator

Important news for today

The entire list of news can be viewed on my website in a filtered calendar

EUR / USD

Yesterday the EUR / USD pair was trading higher and closed the day in positive territory around the $ 1.1930 price. Today the pair was trading in a narrow range of $ 1.1930-50, staying close to a 27-month high. On the hourly chart, EUR / USD is still trading above the MA line (200) H1 ($ 1.1815). 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 pair remains above MA 200 H1, it is necessary to look for buy entry points to form a correction.

Resistances are at: $ 1.1965, $ 1.2000, $ 1.2100

Support levels are located at: $ 1.1928 $1.1918 $1.1885, $ 1.1830, $ 1.1780

The main scenario for the pair's advance is continued growth to $ 1.1965 (maximum on August 18). An alternative scenario implies the final consolidation below MA 200 H1, followed by a decline to $ 1.1755 (the minimum of the American session on August 12).

Sentiment of major currency pairs

Sentiment of market positions is the ratio of traders' positions on the Myfxbook service . We will be interested in the skew of positions from 70/30 and stronger. The point is that the minority earns in the market. If the instrument has been in a significant skew of positions for a long time, a large player can push the price in his direction.

In most cases, I consider the smaller side for opening deals, since you must understand that it is just the minority who make money in the market. + I always focus on the continuation of the trend

The entire list of the ratio of traders' positions for buying and selling can be viewed on my website in the sentiment section