EUR/USD analysis for October 09 2020 – Both upside targets at the 1.1780 and 1.1805 reached and potential for the next major

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EUR/USD analysis for October 09 2020 - Both upside targets at the 1.1780 and 1.1805 reached and potential for the next major

EUR/USD analysis for October 09 2020 – Both upside targets at the 1.1780 and 1.1805 reached and potential for the next major

  • US hasn’t produced any substantial evidence
  • Ant Group, WeChat exposes ‘economic bullying’ by US

The latest salvo between the two countries sees the Trump administration looking into restrictions against Ant Group and Tencent over concerns that their digital payment platforms threaten US national security.

Further Development

EUR/USD analysis for October 09 2020 - Both upside targets at the 1.1780 and 1.1805 reached and potential for the next major

Analyzing the current trading chart of EUR, I found that EUR reached both of our yesterday’s targets at 1,1780 and 1,1805

Anyway, I still expect further upside and potential for test of the next upper targets at 1,1835 and $1,1870.

Watch for buying opportunities on the dips.

1-Day relative strength performance Finviz

analytics5f804783b4b58.jpg

Based on the graph above I found that on the top of the list we got Lean Hogs and Lumber today and on the bottom Gasoline RBOB and Cocoa.

EURi s currently at the top of the list on the relative strength…

Key Levels:

Resistance: 1,1805

Support level: 1,1780

The material has been provided by InstaForex Company – www.instaforex.com

Source : https://www.mt5.com/forex_analysis/quickview/190948/