After a sharp rise, the EUR/USD currency pair has stabilized and is being traded in a narrow range near the key resistance at 1.1451. In case of a breakdown and the price consolidation above this level, the asset is expected to keep growing.
EUR/USD, 30 min
Pivot - 1.1348
Analysis:
Provided that the currency pair is traded below 1.1300, follow the recommendations below:
The timeframe: 30 min
Recommendation: - long position
Entry point: 1. 1348
Take Profit 1: - 1. 1385
Take Profit 2: - 1. 1425
Alternative scenario:
In case of breakdown of the level 1. 1300, follow the recommendations below:
The timeframe: 30 min
Recommendation - short position
Entry point: 1. 1300
Take Profit 1: 1. 1275
Take Profit 2: 1. 1245
Comment:
RSI shows upward momentum. EUR/USD might fall by 33-77 pips.
Key levels:
Resistance
Support
1.1485
1.1300
1.1425
1.1275
1.1385
1.1245
EUR/USD, D1
Pivot: 1.1370
Analysis:
While the price is above 1. 1100, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 1.1370
Take Profit 1: 1. 1565
Take Profit 2: 1. 1700
Alternative scenario:
If the level 1. 1100 is broken-down, follow the recommendations below.
Time frame: D1.
Recommendation: short position
Entry point: 1.1100
Take Profit 1: 1.0990
Take Profit 2: 1.0880
Comment:
RSI shows buying power and further upward movement within the uptrend. EUR/USD may grow by 175-330 pints.
Key levels:
Resistance
Support
1.1840
1.1100
1.1700
1.0990
1.1565
1.0880
We also advise you to pay attention to the following currency pairs for intra-day trading:
NZD/USD – buy above 0.6266 with 0.6314 and 0.6326 as Take Profit targets. Alternative scenario - if the level of 0.6266 is broken-down, you should consider selling with the targets 0.6246 and 0.6234 as Take Profit. GBP/USD - long positions above 1.2885 with 1.2950 and 1.2980 targets as Take Profit. Alternative scenario - if the level of 1.2885 is broken-down, sell with the targets 1.2865 and 1.2840 as Take Profit. EUR/JPY - sell below 119.07 level with 117.99 and 117.70 targets as Take Profit. Alternative scenario - if the level 119.07 is broken-down, sell with the TP 119.56 and 119.86.
WHY TRADE WITH PAXFOREX?
We are one of the fastest growing Forex Brokers in the Market. Trade with PaxForex to get the full Forex Trading experience which is based on...