EUR/USD Stays Above 1.18000 – Indicates a Higher Weekly Closing
ByLCMS Traders FX Analysis Team
SEP 10, 2021
EUR/USD Daily Forecast
EUR/USD managed to stay above 1.3800 on Thursday and is currently trading at 1.1839 with immediate support levels at 1.3814 and 1.3788. The intraday resistance levels are at 1.3855 and 1.3876.
On the intraday charts, a Doji formation at the bottom of the recent decline perhaps indicates the end of correction and the pair is likely heading towards a positive weekly closing. The SMA-14 is indicating support at 1.1817 and the SMA-50 support line is at 1.18000. The pair is also keeping above the mid-Bollinger band the RSI is at 55 and favors the bulls. Following the intraday and 4-hourly price pattern, the pair is ideal for buying using the following levels
Direction: buy
Entry: 1.1810
Take Profit: 1.1865
Stop-Loss: 1.1770
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