empty
12.10.2020 09:16 AM
Brief trading recommendations for EUR/USD on 10/12/20

This image is no longer relevant

Last Friday, the EUR/USD pair managed not only to show an upward interest, but market participants successfully broke through the resistance level of 1.1810, which focused the traders' interest on working on a rebound for a long time.

From the point of view of technical analysis, breaking through the coordinate, which acted the same role for a long time, can signal a change in trading interest.

In this case, the resistance was the level of 1.1810. There was a price consolidation above it, which cast doubt on the downward tact set in the market during the September period.

Regarding the current fluctuation, you can see that the quote has a local high of 1.1830, where there was a pullback in the direction of the passed level of 1.1810.

Based on the location of the quote and the behavior of market participants, we can make a trading forecast from several possible market development scenarios.

First, a movement towards the breakdown.

The level of 1.1810 has already been overcome, and if the local high of 1.1830 is updated, it will be likely that a new round of buy positions will arise, which will further strengthen the euro.

Second, an awkward hesitation.

The level of 1.1810 will continue to put pressure on buyers, which will affect the market in the form of instability in a variable range, presumably - 1.1800/1.1830, where the tactics will be based on the method of breaking a particular border.

This image is no longer relevant

Gven Podolsky,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD Analysis on May 14, 2025

On Tuesday, the EUR/USD pair rebounded from the support zone of 1.1074–1.1081 and reversed in favor of the euro, climbing by 110 points. Thus, the bears' joy was short-lived

Samir Klishi 11:20 2025-05-14 UTC+2

GBP/USD Analysis on May 14, 2025

On the hourly chart, the GBP/USD pair continued its upward movement on Tuesday after bouncing off the 1.3139 level. Judging by the wave structure, the bearish trend has not been

Samir Klishi 11:17 2025-05-14 UTC+2

Forex forecast 14/05/2025: EUR/USD, GBP/USD, Oil, Ethereum and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:01 2025-05-14 UTC+2

Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday May 14, 2025.

Although on the 4-hour chart the AUD/JPY cross currency pair is still moving above the WMA (30 Shift 2) which also has a slope that is going upwards, but because

Arief Makmur 07:42 2025-05-14 UTC+2

Technical Analysis of Daily Price Movement Crude Oil Commodity Instrument, Wednesday May 14, 2025.

From what is seen on the 4-hour chart of the Crude Oil commodity instrument, there are several interesting facts, first the appearance of a Double Bottom pattern followed by Convergence

Arief Makmur 07:42 2025-05-14 UTC+2

EUR/USD Forecast for May 14, 2025

On Tuesday, the euro chose not to continue resisting market sentiment and joined the broader risk-on trend. The U.S. stock index S&P 500 rose by 0.72%, the dollar index declined

Laurie Bailey 05:03 2025-05-14 UTC+2

GBP/USD Forecast for May 14, 2025

Amid yesterday's surge in risk appetite and general market optimism (S&P 500 +0.72%, WTI +2.78%, Dollar Index -0.76%), the British pound did not attempt to test the target support

Laurie Bailey 05:03 2025-05-14 UTC+2

AUD/USD Forecast for May 14, 2025

The Australian dollar has broken above the 0.6394–0.6444 range. The signal line of the Marlin oscillator reversed upward before reaching the boundary of the bearish zone. Considering possible fluctuations, allowing

Laurie Bailey 05:03 2025-05-14 UTC+2

Trading Signals for GOLD for May 12-15, 2025: buy above $3,225 (200 EMA - 6/8 Murray)

Early in the American session, gold is trading around 3,249, rebounding after reaching the low of 3,224, which coincided with the 200 EMA. After reaching this bottom, gold is rebounding

Dimitrios Zappas 18:50 2025-05-13 UTC+2

Trading Signals for EUR/USD for May 13-19, 2025: sell below 1.1184 (200 EMA - 21 SMA)

Early in the American session, the euro is trading around 1.1171, below the 200 EMA and below the 21 SMA. On the H4 chart, we can see that the euro

Dimitrios Zappas 18:49 2025-05-13 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.