Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD extends gains above 0.9900 as the US dollar loses further ground.
EUR/USD,D1
Pivot: 0.9931
Analysis:
While the price is below 0.9950, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.9931
- Take Profit 1: 0.9700
- Take Profit 2: 0.9565
Alternative scenario:
If the level 0.9950 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.9950
- Take Profit 1: 1.0800
- Take Profit 2: 1.0200
Comment:
RSI shows the development of a downtrend in the medium term.
| Resistance | Support |
| 1.0200 | 0.9700 |
| 1.0080 | 0.9565 |
| 0.9950 | 0.9500 |
