EURUSD 210920
Despite a better-than-expected US consumer confidence report, the pair remains well oriented.
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The University of Michigan's Consumer Sentiment Index spiked to 78.9 on month in the September preliminary reading (75.0 expected), from 74.1 in the August final reading.
From a technical point of view, on a daily chart, EUR/USD remains supported by a rising trend line drawn from Mid-May and by its 50-period moving average. Readers may therefore consider the potential for further advance above horizontal support at 1.1700. The nearest resistance would be set at at 1.2015 (September 1 top) and a second one would be set at 1.2150 in extension.
From a technical point of view, on a daily chart, EUR/USD remains supported by a rising trend line drawn from Mid-May and by its 50-period moving average. Readers may therefore consider the potential for further advance above horizontal support at 1.1700. The nearest resistance would be set at at 1.2015 (September 1 top) and a second one would be set at 1.2150 in extension.
Source : TradingVIEW, Gain Capital
The University of Michigan's Consumer Sentiment Index spiked to 78.9 on month in the September preliminary reading (75.0 expected), from 74.1 in the August final reading.
From a technical point of view, on a daily chart, EUR/USD remains supported by a rising trend line drawn from Mid-May and by its 50-period moving average. Readers may therefore consider the potential for further advance above horizontal support at 1.1700. The nearest resistance would be set at at 1.2015 (September 1 top) and a second one would be set at 1.2150 in extension.
From a technical point of view, on a daily chart, EUR/USD remains supported by a rising trend line drawn from Mid-May and by its 50-period moving average. Readers may therefore consider the potential for further advance above horizontal support at 1.1700. The nearest resistance would be set at at 1.2015 (September 1 top) and a second one would be set at 1.2150 in extension.
Source : TradingVIEW, Gain Capital
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