EUR/USD | Euro tso US Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

EUR/USD prods 1.0780 key support with eyes on ECB’s Lagarde, Eurozone PPI and US data.

EUR/USD,D1

Pivot: 1.0761

Analysis:

While the price is below 1.0950, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.0761
• Take Profit 1: 1.0650
• Take Profit 2: 1.0550

Alternative scenario:

If level 1.0950 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.0950
• Take Profit 1: 1.1065
• Take Profit 2: 1.1150

Comment:

RSI shows the development of a downtrend in the medium term.