Main Quotes Calendar Forum
flag

FX.co ★ EUR/USD analysis for 04.10.2020 - EUR/USD found resistance at the price of 1.0950, potential forr downside rotation towards the levels at 1.0920 and 1.0890

parent
Forex Analysis:::2020-04-10T12:11:30

EUR/USD analysis for 04.10.2020 - EUR/USD found resistance at the price of 1.0950, potential forr downside rotation towards the levels at 1.0920 and 1.0890

Corona virus news:

EUR/USD analysis for 04.10.2020 - EUR/USD found resistance at the price of 1.0950, potential forr downside rotation towards the levels at 1.0920 and 1.0890

A messy compromise to unlock €500bn (£438bn) of EU support for countries hit hardest by the coronavirus pandemic has been struck after Italy's prime minister, Giuseppe Conte, warned that the existence of the bloc was at stake.

EU finance ministers on a video conference call struck a deal late on Thursday after the Netherlands shifted on a demand for "economic surveillance" of countries benefiting from €240bn of credit lines via the European stability mechanism, a bailout fund for struggling member states.

Technical analysis:

EUR/USD has been trading upwards. The EUR/USD found resistance at the price of 1.0950. I see chance for the downside rotation towards the levels at 1.0920 and 1.0890.

Trading recommendation:

Watch for selling opportunities on the EUR/USD with the stop above 1.0950 and potential downside targets at 1.0920 and 1.0890.

MACD oscillator is showing still rising curve and rising slow line.

Major resistance zone is set at $1.690-$1.700.

Support levels and downward targets are set at the price of 1.0890.

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...