EUR/USD: Trade ideas for Sep.12

   Felipe Erazo

The EURUSD encountered resistance at the level of 1.2962, so this pair make a retracement to the level of 1.2898 (61.8 Fibo retracement level), and there conducted a rebound that has led to the EURUSD to consolidate above the support level of 1.2923 in the H1 chart.

It should take into account that the EURUSD has remained in range below the 200 EMA for several days, so it is very likely that the EURUSD tries to climb up to the level of 1.2999. The RSI indicator stays in neutral territory.

Trading recommendations: We don't recommend to add intraday positions in the EURUSD for today.

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