Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/USD dropped to 1.1334 after peaking at 1.1385 on the last trading day of the week. The pair recovered from the low mentioned during the trading in London and rose to 1.1350.
EUR/USD,D1
Pivot: 1.1300
Analysis:
While the price is below 1.1530, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1300
- Take Profit 1: 1.1170
- Take Profit 2: 1.1100
Alternative scenario:
If the level 1.1530 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1530
- Take Profit 1: 1.1690
- Take Profit 2: 1.1800
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.1800 | 1.1170 |
| 1.1690 | 1.1100 |
| 1.1530 | 1.1000 |
