empty
 
 
09.04.2020 02:22 PM
EUR/USD analysis for 04.09.2020 - Bear flag pattern on the 8H timeframe, potential for drop towards the level of 1.0770

Corona virus summary:

This image is no longer relevant

The number of people killed by the coronavirus in Spain passed 15,000 on Thursday, but the daily death toll fell to 683 after two consecutive days of rising above 740, Sam Jones reports from Madrid.

Figures released by the health department suggest that the spread of the virus is continuing to slow down: between Wednesday and Thursday, the rise in the number of new cases was 3.9%, compared with a daily average of 12% at the end of March and 20% in mid-March.

Spain's prime minister, Pedro Sanchez, is once again seeking congress' approval to extend the state of emergency - this time until 26 April.Speaking in parliament on Thursday morning, he defended his government's handling of the Covid-19 crisis and said the continuing lockdown, which has been in effect since 14 March, was the best way to tackle contagion-to date, Spain has confirmed 152,336 cases of the virus, and 15,238 deaths. However, there are growing doubts over the way in which the country is counting the dead..

Technical analysis:

EUR/USD has been trading sideways at the price of 1.0870. Anyway, I found that on the 8H time-frame there is the bear flag and rejection of the middle Bollinger band, which is sign that potential downside trend may resume.

Watch for selling opportunities with the downward targets at 1.0770 and 1.0635.

Stochastic oscillator is showing potential bear cross and currently is at the level of 50.

Resistance levels are set at the price of 1.0920.

Support levels and downward targets are set at the price of 1.0770 and 1.0635.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $9000 más!
    ¡En Mayo, sorteamos $9000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback