EURUSD upwards momentum is slowly building up as the pair continues trading above the 1.000 mark. The EURUSD pair seems to have developed strong support around 0.9910. Intraday support levels are at 0.9984 and 0.9943 and intraday resistance levels are at 1.0047 and 10069. At the time of writing these lines, the EURUSD pair is trading at 1.0035 and fast approaching the first intraday hurdle at 1.0047, and only a push above this level will ensure a further rise in the day.
EURUSD Technical Analysis (Daily)
The Bollinger Bands and the RSI (Relative Strength Index) currently indicate a neutral picture of the EUR to USD pair. ATR (Average True Range) indicates low volatility. The Stochastic Indicator is also presenting an unbiased view. Here is the current EURUSD rate is above the 20-period moving average while it is below the 50 and 100-period moving averages.
Bollinger Bands is a unique technical indicator used in Forex, Stocks, and Commodity markets. It provides insight into the price and market volatility. There are several Bollinger Bands strategies that investors use from time to time. The Bollinger Bands Squeeze strategy is a reliable trading strategy that helps traders to screen stocks or any Forex Currency Pair such as EUR to USD dollar. Understanding the Bollinger Bands indicator and using It for Forex trading is easy. Anyone can learn to use Bollinger bands with little practice.
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EURUSD Key Support and Resistance Today
In EUR to USD Investing, Support and resistance levels play an important role. These levels help traders to find the right entry and exit levels. For example, if the EURUSD analysis indicates a support level, it might be a reasonable entry point as the prices tend to recover from a support level. Likewise, if EURUSD Technical analysis suggests a resistance area, it might be an appropriate level to enter a short trade as prices tend to drop from a resistance level.
EUR/USD Pivot Points
EUR/USD Trading Ranges
Daily Trading EURUSD Range: 1.0013 – 1.0051
Weekly Trading EURUSD Range: 0.9966 – 1.0051
Monthly Trading EURUSD Range: 0.9864 – 1.0198
Yearly Trading EURUSD Range: 0.9864 – 1.1495
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EURUSD Trade Signal 19-SEP-2022
EUR/USD is recovering from a multi-year low, and the recovery pattern is not fully established. However, most technical indicators have now turned from bearish to neutral, suggesting a possible recovery in the coming days. On the intraday basis, the price pattern is bullish and in line with FXDatapanel’s proprietary algorithm, which makes it ideal for intraday buy trades using the following levels.
EURUSD Signal Direction: Buy
Signal Timeframe: Daily
Strength Level: Normal
Entry: 0.9985
Stop-loss: 0.9918
Take Profit: 0.1.0081
Note: The EURUSD overall trend is still bearish, and traders must carefully observe any pullbacks beyond the 1.000 mark.
Finding entry and exit levels requires much more than support and resistance levels. A trader must perform a complete technical analysis using several technical indicators to find the correct entry and exit levels. To avoid this hassle, the Fxdatapanel offers a unique platform to generate trade signals for any currency pair, including EUR/USD. This platform offers Grid Signals and Straight Signals with An Accuracy Rate of nearly 80%
EURUSD Future Forecast
On the upside, the 1.0047 is the first hurdle, and bulls need a sustained price action to move above this area. Failing to build a strong momentum may send the EURUSD pair lower toward 1.000. On the downside, 0.9984 is likely to be an essential support area. However, a breach below this level will negatively impact the ongoing recovery and open the doors for a further decline towards 0.9900
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