empty
13.10.2020 08:50 AM
Brief trading recommendations for EUR/USD on 10/13/20

This image is no longer relevant

Yesterday, the EUR/USD pair failed to update the local high of 1.1830, which resulted in a pullback in the direction of 1.1800, where it stopped.

The so-called "awkward price behavior" occurs when the shares of buyers and sellers are equal, which can subsequently lead to an acceleration in the market, but we'll talk about that more later.

The range of 1.1800/1.1830 is brought together by the level of 1.1810, where the market stopped systematically. Now, we understand why there was an awkward price fluctuation and relatively equal market shares in this particular area.

Relative to the current fluctuation, you can see a characteristic slowdown, but as soon as one or another border of the previously described area is broken, there will be a local acceleration in the market.

Based on the location of the quote and the behavior of market participants, you can make a trading forecast from a number of possible market scenarios:

First, the bulls won.

The upward trend previously set in the market persists, which leads to an update of the local high of 1.1830, and this will direct us to a subsequent movement in the direction of 1.1870.

Second, the awkward swing ends in a bearish rush.

We should not forget that since the beginning of September, the market has been experiencing a downward tact, where the current movement is only a corrective move from the low of 1.1612. Thus, price consolidation below 1.1785 will lead to a surge in sellers, which can trigger the recovery process relative to the correction course.

This image is no longer relevant

Gven Podolsky,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD. March 13th. Bulls Are Tired of Playing Along with Trump

On Wednesday, the EUR/USD pair continued a very weak decline after rebounding from the 1.0944 level. This morning, it reached the 200.0% corrective level at 1.0857. A rebound from this

Samir Klishi 11:18 2025-03-13 UTC+2

GBP/USD. March 13th. U.S. Inflation Made Things Worse for the Dollar

On the hourly chart, the GBP/USD pair continued its upward movement toward the 127.2% Fibonacci retracement level at 1.3003 on Wednesday. The growth was weak, and the bulls failed

Samir Klishi 11:16 2025-03-13 UTC+2

Forex forecast 13/03/2025: EUR/USD, USD/JPY, Oil and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:24 2025-03-13 UTC+2

Indicator Analysis: Daily Review for GBP/USD on March 13, 2025

On Thursday, the market may start moving downward from the 1.2959 level (yesterday's daily close) toward 1.2924 – the 14.6% retracement level (yellow dashed line). From this level, the price

Stefan Doll 09:45 2025-03-13 UTC+2

Indicator Analysis for EUR/USD on March 13, 2025

On Thursday, the market may continue moving downward from 1.0886 (yesterday's daily close) toward 1.0861 – the 14.6% Fibonacci retracement level (blue dashed line). From this level, a rebound upward

Stefan Doll 09:25 2025-03-13 UTC+2

Technical Analysis of Intraday Price Movement GBP/AUD Cross Currency Pairs, Thursday March 13, 2025.

If we look at the 4-hour chart of the GBP/AUD cross currency pair, it appears that the AB=CD Harmonic pattern has emerged, especially with the support of the Stochastic Oscillator

Arief Makmur 09:15 2025-03-13 UTC+2

Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday March 13, 2025.

With the movement of the Nasdaq 100 index price moving below its MA (50) and the appearance of Divergence between the Nasdaq 100 index and the Stochastic Oscillator indicator

Arief Makmur 09:15 2025-03-13 UTC+2

EUR/USD Forecast for March 13, 2025

Yesterday, U.S. inflation data indicated a slowdown in February, with core CPI at 2.8% year-over-year compared to 3.0% in January, which was also above the forecast of 2.9%. However

Laurie Bailey 04:13 2025-03-13 UTC+2

GBP/USD Forecast for March 13, 2025

By the end of yesterday, the British pound experienced a slight increase, continuing its overall upward trend. The price is attempting to reach the target level of 1.3001, while

Laurie Bailey 04:13 2025-03-13 UTC+2

USD/CAD Forecast for March 13, 2025

On the daily chart, both the price and the Marlin oscillator are forming triangles. If it weren't for the downward pressure from the MACD line, the trend would likely

Laurie Bailey 04:13 2025-03-13 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.