MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Technical Analysis of EUR/USD for October 6, 2020

Technical Market Outlook:

The EUR/USD pair has moved higher towards the level of 1.1790 and made a new local high at the level of 1.1798. The target for bulls is seen at the level of 1.1822, which is a 61% Fibonacci retracement on the weekly time frame. Please notice, the market conditions are overbought again despite the strong and positive momentum, so the pull-back is coming soon. The nearest technical support is seen at the level of 1.1752. The weekly time frame trend remains up.

Weekly Pivot Points:

WR3 - 1.1938

WR2 - 1.1852

WR1 - 1.1782

Weekly Pivot - 1.1691

WS1 - 1.1632

WS2 - 1.1548

WS3 - 1.1473

Trading Recommendations:

Since the middle of March 2020 the main trend is on EUR/USD pair has been up, which can be confirmed by almost 10 weekly up candles on the weekly time frame chart and 4 monthly up candles on the monthly time frame chart. Nevertheless, weekly chart is recently showing some weakness in form of a several Pin Bar candlestick patterns at the recent top. This means any corrections should be used to buy the dips until the key technical support is broken. The key long-term technical support is seen at the level of 1.1445. The key long-term technical resistance is seen at the level of 1.2555.

analytics5f7c052a48473.jpg

The material has been provided by InstaForex Company - www.instaforex.com