EUR/USD analysis for September 28 2020 - Potential for another downside swing towards the 1.1450

New rift is growing over future stimulus and economic projections ECB hawks wanted in Sept to quietly reduce the pace of PEPP bond purchases, objected to projections excluding key fiscal measures Doves rejected top timid language on euro strength and growth risks

That's an interesting look at the state of play at the ECB.

As I discussed in the previous review, the EUR/USD is still in the downward trend and I would prefer selling opportunities on the rallies.

Further Development

Analyzing the current trading chart of EUR, I found that there is strong pivot resistance level at 1,1680 and 1,1700.

II would watch for the selling opportunities on the rallies due to strong downside trend and no evidence of the reversal yet.

Downward target is set at the price of 1,1450.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Lumber and Dax today and on the bottom Natural gas and Feeder Cattle

Key Levels:

Resistance: 1,1700

Support levels: 1,1450