EUR/USD Technical Analysis – Hantec Markets 25/08/2020

by birtanpublished on August 29, 2020

Welcome back to my daily report market analysis videos with me which is pure rocket analyst at hand tech on tuesday 25th of august moving on to euro dollar now where the euro has started to reclaim a little bit of lost

Ground of the past four sessions or so yesterday's candle was an interesting one it was a bull failure candle that left the euro just looking a little bit saggy

Again but it's tipped higher once more this morning with positive risk appetite which is broadly hitting the dollar and predominantly the yen which is looked at euro yen as my chance of the day but

Euro has also picked up against the dollar now um this move is starting to stabilize um the outlook once more um we've talked previously a lot about 118 big figure being a

Mid-range pivot um although it didn't really conform yesterday especially it has done once more this morning previously it had been a really key turning point consistently 118 big

Figure in the in the range and picking up again above 118 big figure today helps the outlook now the market will be looking out for if it can start to develop this higher

Low higher high scenario so subsequently 1 18 50 yesterday's high comes in as the the first important basis of support um because

You look at these momentum indicators they're starting to turn a little bit more positive not decisively yet you want to see that rsi above 70 to really suggest that the bulls are getting control back again but

I think that what we've got is the market above 18 big figure which is um again an element of positivity back in for the euro holding up onto that 1750 support which is friday's low is important on an

Ongoing basis because obviously that protects 1695 which is the old range low but i think anything that holds above 18 big figure is is still bullish essentially for the

Euro i think it just sort of puts an end um or so puts a cork in the little corrective move that we've had and you start to see the rsi still hold well still holding above 50 importantly but then if the rsi can get

Back above 60 that again starts to generate more positive momentum once more and um the bulls can start to look back towards the highs again but obviously 1850 needs to be the furlong

Bro obviously that is the first um first lower high which would then start to generate the new trend higher of a higher low and a higher high so that is the important level to look out

For today but looking at this hourly in these hourly indicators i think that they are sort of building towards that now as i said holding above 18 figure is important so again something that needs to happen to

Continue to drive what essentially is starting to see an improvement but the market will be also looking forward to durham powell on thursday i think for the real

Driver so with that in mind i wish you good luck in your trading today click here to subscribe to our analysis videos go to our website sign up for our webinars and also click to watch trader talks our videos

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