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EUR/USD: Technical Analysis and Trading Recommendations_08/30/2021

EUR/USD: Technical Analysis and Trading Recommendations_08/30/2021

At the beginning of today's European session, EUR / USD is traded in the zone above the important short-term support levels 1.1754 (EMA200 on the 1-hour chart), 1.1792 (EMA200 on the 4-hour chart).

EUR/USD: Technical Analysis and Trading Recommendations_08/30/2021

In case of a breakdown of the important resistance level 1.1825 (ЕМА50 and the upper line of the descending channel on the daily chart), we can expect further growth towards the key resistance levels 1.1885 (ЕМА200 on the daily chart), 1.1905 (ЕМА144 on the daily chart).

EUR/USD: Technical Analysis and Trading Recommendations_08/30/2021

Breakdown of the long-term resistance level 1.2065 (ЕМА200 on the monthly chart) will return EUR / USD to the bull market zone with the prospect of its further growth to the resistance levels 1.2180 (50% Fibonacci level of the upward correction in the wave of the pair's decline from the level 1.3870, which began in May 2014, and 2018 highs), 1.2260, 1.2340, 1.2450, 1.2500, 1.2580 (Fibonacci level 61.8%), 1.2600.

EUR/USD: Technical Analysis and Trading Recommendations_08/30/2021

In an alternative scenario and after the breakdown of the support levels 1.1792, 1.1780 (Fibonacci level 38.2%), EUR / USD will go deep into the descending channel on the daily chart, and the breakdown of the support level 1.1754 will signal the resumption of the EUR / USD downward dynamics.

Break of the long-term support level 1.1625 (ЕМА200 on the weekly chart) will finally return the pair to the long-term bear market zone.

Support levels: 1.1792, 1.1780, 1.1754, 1.1710, 1.1665, 1.1625

Resistance levels: 1.1825, 1.1885, 1.1905, 1.1950, 1.2065, 1.2180, 1.2260, 1.2340, 1.2450, 1.2580, 1.2600

Trading Recommendations

Sell Stop 1.1770. Stop-Loss 1.1815. Take-Profit 1.1754, 1.1710, 1.1665, 1.1625

Buy Stop 1.1815. Stop-Loss 1.1770. Take-Profit 1.1825, 1.1885, 1.1905, 1.1950, 1.2065, 1.2180, 1.2260, 1.2340, 1.2450, 1.2580, 1.2600

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