"April figures do not allow us to hope for the best," said the German Ministry of Economy, commenting on the GDP decline for the 1st quarter. Published data reflected a decline of 2.2%, according to forecasts, but the figure is better than the average for European countries. The EUR/USD currency pair remains above 1.08.
EUR/USD, 30 min
Pivot: 1.0817
Analysis:
Provided that the currency pair is traded above 1.0805, follow the recommendations below:
Time frame: 30 min
Recommendation: long position
Entry point: 1.0817
Take Profit 1: 1.0835
Take Profit 2: 1.0850
Alternative scenario:
In case of breakdown of the level 1.0805, follow the recommendations below:
Time frame: 30 min
Recommendation: short position
Entry point: 1. 0805
Take Profit 1: 1.0790
Take Profit 2: 1.0775
Comment:
RSI is bullish and indicates a further growth.
Key levels:
Resistance
Support
1.0870
1.0805
1.0850
1.0790
1.0835
1.0775
EUR/USD, D1
Pivot: 1.0821
Analysis:
While the price is below 1.0990, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 1.0821
Take Profit 1: 1.0725
Take Profit 2: 1.0630
Alternative scenario:
If the level 1.0990 is broken-out, follow the recommendations below.
Time frame: D1
Recommendation: long position
Entry point: 1.0990
Take Profit 1: 1.1145
Take Profit 2: 1.1235
Comment:
RSI shows a possibility of a downtrend.
Key levels:
Resistance
Support
1.1235
1.0725
1.1145
1.0630
1.0990
1.0520
We also advise you to pay attention to the following currency pairs for intra-day trading:
AUD/USD – buy above 0.6405 with 0.6370 and 0.6350 as Take Profit targets. Alternative scenario - if the level of 0.6405 is broken-down, you should consider selling with the targets 0.6375 and 0.6355 as Take Profit. GBP/USD - short positions below 1.2130 with 1.2070 and 1.2040 targets as Take Profit. Alternative scenario - if the level of 1.2130 is broken-out, buy with the targets 1.2160 and 1.2190 as Take Profit. USD/CAD – sell below 1.4115 with 1.4050 and 1.4015 targets as Take Profit. Alternative scenario - if the level 1.4075 is broken-out, buy with the TP 1.4140 and 1.4170.
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