FX August 28, 2020 / 07:00 pm UTC

Chart EUR/USD Update: 1.1933/85 Zone up Next

By Rob Zukowski


 
Levels
Imp
Comment

 
Levels
Imp
Comment
R4
1.2000
**
Figure

S1
1.1811

August 28 low
R3
1.1985
*
Trendline level

S2
1.1720
*
Trendline level
R2
1.1933

Break level

S3
1.1700

Congestion
R1
1.1920

August 28 high

S4
1.1660
*
38.2% retracement from June 19

Asterisk denotes strength of level

19:00 GMT - The EUR/USD end-of-week rally is holding up for now. The next upside focus looks to be on the 1.1933/85 range heading into the new week. Currently, the crowd does not seem too interested in the idea of a potential head-and-shoulders top pattern, at least not while the dollar is out of favor and the stock market is in favor. Support stands at 1.1811-1.1720 in case things take a turn for the worse on Monday.

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