EUR/USD Daily Outlook

15 Sep 2020, 17:44 · Views 729

Daily Pivots: (S1) 1.1834; (P) 1.1861; (R1) 1.1890;

Intraday bias in EUR/USD remains neutral and outlook is unchanged. Further rise is mildly in favor with 1.1754 support intact. On the upside, break of 1.2011 will resume whole rise form 1.0635. Nevertheless, on the downside, firm break of 1.1754 will turn bias to the downside for 38.2% retracement of 1.0635 to 1.2011 at 1.1485, to correct the rise from 1.6035.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally rise should be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516 ). This will remain the favored case as long as 1.1422 resistance turned support holds.

Reprinted from ActionForex，the copyright all reserved by the original author.

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If you like, reward to support.

OliviaFY

16 Sep 2020

There is still a possibility of temporary retracement to suggested resistance line (1.1952 & 1.1917).

Ranefxx

euro is now growing towards support line...gearing to take long position

Mary Grace

15 Sep 2020

The euro currency has been trading higher for the most part since the markets opened on Monday. To the downside, the euro is well supported above the 1.1800 handle.

EUR/USD Daily Outlook

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