Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/USD might return to 1.1800 area in the coming weeks, currency strategists from UOB Group suggested.
EUR/USD,D1
Pivot: 1.1916
Analysis:
While the price is below 1.2020, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1916
- Take Profit 1: 1.1775
- Take Profit 2: 1.1700
Alternative scenario:
If the level 1.2020 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2020
- Take Profit 1: 1.2095
- Take Profit 2: 1.2190
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.2190 | 1.1775 |
| 1.2095 | 1.1700 |
| 1.2020 | 1.1650 |
