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๐Ÿ“ˆ Daily TA: EUR/USD | 16-10-2020

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cryptospa
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Hello, dear members of LeoFinance!

Today I will comment on the price chart of the currency pair EUR/USD, that I used to trade a lot in the period 2010-2019.

So, in the monthly time frame (MN), EUR/USD is at the trend line (downtrend line): In addition, as can be seen from the chart, the currency pair formed a Bearish Engulfing in September. That's why there are enough bearish signals indicating to a potential downtrend renewal (bearish scenario: S1).

However, keeping in mind, that the presidential election in the U.S. is approaching, what can have a significant impact on the dollar, I won't be supersized if (in case of higher volatility) a breakout will happen and EUR/USD will reach the level of the previous local high (bullish scenario: S2).

So, fellow LeoFinancier, what do you expect from EUR/USD?

p.s. at the time of writing EUR/USD is at the level of 1.17166, according to TradingView.

A few words about me:

Just to let you know: I've been working professionally as a currency analyst for the last 14+ years, and as a cryptocurrency analyst for the last 3+ years.

Important!

Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency trades, investments and etc.

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