ByLCMS Traders FX Analysis Team
AUG 24, 2021
EUR/USD Daily Forecast
EUR/USD moved about the 1.1700 mark yesterday indicating some stability ahead. Currently, the pair is trading at 1.1738 with immediate support levels at 1.1712 and 1.1678. The intraday resistance levels are at 1.1754 and 1.1773.
On the charts, the current price is near the SMA-14 resistance line and a breach above this level is likely to help bears move higher. The SMA-50 resistance line is at 1.1821. The mid-Bollinger band is at 1.1775 while the upper and lower bands are at 1.1909 and 1.1641 respectively. The RSI is at 43 and has a downwards curve however, with yesterday’s recovery the intraday price pattern is turning bullish which favors buying entries on small dips using the following levels.
Direction: Buy
Entry: 1.1705
Take Profit: 1.1755
Stop-loss: 1.1672
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