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: