Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/USD pair lost more than 100 pips last week. ING economists think the pair could repeat the May lows.
EUR/USD,D1
Pivot: 1.0446
Analysis:
While the price is below 1.0650, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0446
- Take Profit 1: 1.0350
- Take Profit 2: 1.0200
Alternative scenario:
If the level 1.0650 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0650
- Take Profit 1: 1.0800
- Take Profit 2: 1.0940
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
Resistance | Support |
1.0940 | 1.0350 |
1.0800 | 1.0200 |
1.0650 | 1.0100 |