The EUR / USD pair before the opening of the American session is trading below the SMA of 21 and below the 2/8 of Murray, under downward pressure and with an important support at 1.1882.
The expectation for the EUR / USD pair to rise continues to be held back by the 1.2000 area. Now the focus is on the weekly support at 1.1882, which if it yields could favor a bearish acceleration of the euro, with the next support at 1.1860 and then attention could shift to 1/8 Murray, the March low of 1.3840 / 30.
In the opposite direction, a comeback and consolidation above 1.1920, which is where the 21 SMA is passing, would give the euro bullish strength when it comes to the intraday outlook. Then the next resistance is at 1.1962, Murray's 2/8 and the 1.2000 psychological level, and as a final target the 200 EMA located at 1.2035.
The market sentiment report for today shows 51.89% of operators who are buying the EUR / USD pair, this is a sign that in the short term the euro could fall to the zone of 1.18 and 1.1755.
Our recommendation is to buy or sell below the 21 SMA, paying attention to the eagle indicator that shows a bearish signal on 4-hour charts.
Support And Resistance Levels For March 19 - 22, 2021
Resistance (1) 1.1924
Resistance (2) 1.1965
Resistance (3) 1.2014
Support (1) 1.1883
Support (2) 1.1860
Support (3) 1.1840
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Trading tip for EUR/USD for March 19 - 22, 2021
Buy above 1.1920 (SMA 21) with take profit at 1.1965 (2/8) and 1.2035 (EMA 200), stop loss below 1.1880.
Sell below 1.1882(Strong Support) with take profit at 1.1860 and 1.1840 (1/8 of murray), stop loss above 1.1930.
