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EURUSD: medium-term buys of the pair.

EURUSD: medium-term buys of the pair. | 16 October 2020

16 October 2020, EUR/USD

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.17410-1.17470. At the moment, the pair is trading lower, indicating the strength of sellers.EURUSD: medium-term buys of the pair.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.17270-1.17380. At the moment, the pair is trading lower, indicating the weakness of buyers.

• The area of profitable prices for buy in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the maximum 12.10.2020.

• Quotation of the higher boundary of the zone 1/4 - 1.17756. • Quotation of the higher boundary of the zone 1/2 - 1.17176.

• Intraday objectives: update the highs from 12.10.2020 - 1.18336.

• Medium-term objectives: test the lower bound of WCZ - 1.18486.EURUSD: medium-term buys of the pair.

• Trading recommendations: buys from the range of favorable prices in the formation of a reversal pattern.

• Buy: 1.17176-1.17756, Take Profit 1-1.18336, Take Profit 2-1.18486.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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