All Blogs / Analytics & Forecasts

LEVELS AND TECHICAL ANALIS IN EURUSD 31.08.2020

31 August 2020, 08:20

[Deleted]

105

For this analysis I use iPump indicator

Important news for today

EUR / USD

On Friday, the EUR / USD pair was trading higher and closed the day in positive territory around $ 1.1905. Today the pair was trading in a narrow range of $ 1.1895-25, staying close to Friday's close. On the hourly chart, EUR / USD has broken through and consolidated above the MA line (200) H1 ($ 1.1845). On the four-hour chart, the pair also remains above the MA 200 H4 line. 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: $ 1.1950-65, $ 1.1995, $ 1.1300

Support levels are located at: $ 1.1896 1.1870, $ 1.1810, $ 1.1755-60

The main scenario for the pair's advance is continued growth to $ 1.1950 (August 19 high). Alternative scenario - consolidation below MA 200 H1, followed by a decline to $ 1.1765 (August 27 minimum).

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