FX.co ★ Technical analysis of the EUR/USD currency pair for September 2019

In August, the price started to move upward and even tested the resistance line of 1.1249 (red bold line), but there weren't enough bulls for more. Fundamental analysis played a significant role in this. After touching the resistance line (red bold line), the price rallied down. The market moves downward and broke to a strong level of 1.1098 (blue bold line) and closed below.

Technical analysis

September trading can begin with an upward movement with the first goal of 1.1192 with a pullback level of 14.6% (blue dashed line).

Fig. 1 (monthly chart).

Indicator Analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - down;

- trend analysis - down;

- Bollinger Lines - down;

The conclusion of a comprehensive analysis - most likely working on the top.

According to the monthly chart, the total result of calculating the EUR/USD candle: the price will most likely have an upward trend with the absence of the first lower shadow (the first week of the month - the upper) and the absence of the second upper shadow (the last week is white).