For this analysis I use iPump indicator

Important news for today

Current dynamics EURUSD for 21.09.2020

Since the beginning of August, the EUR / USD pair has been trading in a wide sideways range of 1.1960-1.1750 and has not yet been able to leave it. The market is currently in a state of uncertainty, as the instrument is influenced by a number of opposing factors, and investors are holding back activity ahead of a series of speeches by the FRS representatives scheduled for the current week. Now the position of the American currency is supported by the comments of the head of the Federal Reserve Bank of St. Louis, James Bullard, who expressed confidence that the American economy will see significant growth in the current quarter, and by the end of the year the unemployment rate will drop to 6.5%, which will help raise the inflation rate.

On the other hand, a significant strengthening of the dollar is hindered by increased tensions in relations between the United States and China. Over the weekend, the Chinese authorities published a regulation on the list of unreliable organizations, which will include companies, organizations and individuals that threaten the interests and security of the PRC. It is expected to be used to pressure US companies operating in China if the US continues to obstruct large Chinese corporations such as Huawei from doing business.

Support and resistance levels

Technically, the price is correcting downward from 1.1840 and may reach the lower border of the trading range at 1.1750. If it is broken downwards and the central mark of the trading range at the level of 1.1718, the decline may continue to the levels of 1.1596 and 1.1474.

However, a reversal and resumption of growth towards 1.1962 is seen as more probable.

Resistance levels: 1.1840, 1.1962.

Support levels: 1.1750, 1.1718, 1.1596, 1.1474.

And at this the review came to an end. I wish you profitable trades, remember that your success should not depend on any one trade, you need to try to be in the black at the distance, and for this it is enough to earn only 3 out of 10 trades, how? - your reward to risk ratio should be more than one to three. Therefore, always remember about the    📈    risk (use forex calculator), consider it correctly and then your trading will be successful! Wish you a successful trading day your SeniorTrader.

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Easy Trade Pad

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iPump indicator