Source: PaxForex Premium Analytics Portal, Technical Insight
As reported last Sunday by a member of the ECB Governing Council P. Kazimir:
Inflation is not at the levels we want to see it on;
We will do our best to bring it back to the desired target levels;
We expect the state of low inflation or even deflation to be only temporary.
EUR/USD, 30 min
Pivot: 1.1818
Analysis:
Provided that the currency pair is traded above 1.1795, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.1818
- Take Profit 1: 1.1855
- Take Profit 2: 1.1870
Alternative scenario:
In case of breakdown of the level 1.1795, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.1795
- Take Profit 1: 1.1780
- Take Profit 2: 1.1755
Comment:
RSI is bullish and indicates an uptrend within a day.
Key levels:
Resistance | Support |
1.1905 | 1.1795 |
1.1870 | 1.1780 |
1.1855 | 1.1755 |
EUR/USD, D1
Pivot: 1.1815
Analysis:
While the price is below 1.1850, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1815
- Take Profit 1: 1.1695
- Take Profit 2: 1.1610
Alternative scenario:
If the level 1.1850 is broken-out, follow the recommendations below.
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1850
- Take Profit 1: 1.2015
- Take Profit 2: 1.2150
Comment:
RSI shows the continuation of a downtrend in a medium term.
Key levels:
Resistance | Support |
1.2150 | 1.1695 |
1.2015 | 1.1610 |
1.1850 | 1.1500 |
We also advise you to pay attention to the following currency pairs for intraday trading:
USD/CAD – sell below 1.3160 with 1.3105 and 1.3080 targets as Take Profit. Alternative scenario - if the level 1.3160 is broken-out, buy with the TP 1.3180 and 1.3200.
GBP/USD - long positions above 1.3000 with 1.3080 and 1.3105 targets as Take Profit. Alternative scenario - if the level of 1.3000 is broken-down, sell with the targets 1.2970 and 1.2950 as Take Profit.
AUD/USD – buy above 0.7200 with 0.7270 and 0.7295 as Take Profit targets. Alternative scenario - if the level of 0.7200 is broken-down, you should consider selling with the targets 0.7170 and 0.7145 as Take Profit.