Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD cautiously cheers hawkish ECB bias above 1.0700, German Factory Orders, EU Retail Sales eyed.
EUR/USD,D1
Pivot: 1.0728
Analysis:
While the price is below 1.0750, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0728
- Take Profit 1: 1.0600
- Take Profit 2: 1.0500
Alternative scenario:
If level 1.0750 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0750
- Take Profit 1: 1.0830
- Take Profit 2: 1.0920
Comment:
RSI shows the development of a downtrend in the medium term.
| Resistance | Support |
| 1.0920 | 1.0600 |
| 1.0830 | 1.0500 |
| 1.0750 | 1.0400 |
