FX.co ★ EUR/USD analysis for August 17 2020 - First upward target from Friday at the price of 1.1865 has been reached. Next upward target set at 1.1910

Bloomberg with the headline, citing OPEC on the matter

Just a heads up to the meeting later this week, in case we hear of how the compliance issue is going or any possible plans for future production cuts and what not.

The latest reports are suggesting that OPEC+ sees ~95% compliance to its production cuts in July and I reckon that is somewhat of a satisfactory figure, so there shouldn't be too much complaints despite that being down from ~107% in June.

Further Development

Analyzing the current trading chart of EUR, I found that EUR reached our Friday's first upward target at 1,1865 and that is heading for the second target at 1,1910.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Ethanol and Silver and on the bottom VIX and Coffee

EUR is sligthly in the positive territory and is waiting for the next direction movement.

Key Levels:

Resistance: 1,1910

Support level: 1,1826