Source: PaxForex Premium Analytics Portal, Fundamental Insight

A massive sell-off of the American currency continues, the rate of which is declining against a wide range of assets, holding positions only with oil. Against this backdrop, Gold surpassed the price of $2,000 per troy ounce for the first time in history, Nasdaq100 closed on Tuesday at historic highs, Dow Jones 30 added 0.6%, and S&P 500 rose 0.4%. There are reasons for that: the Fed representatives started talking about the need to expand the support through new quantitative easing, which supported the positive tone.

EUR/USD, 30 min

Pivot: 1.1880

Analysis:

Provided that the currency pair is traded above 1.1855, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.1880
• Take Profit 1: 1.1920
• Take Profit 2: 1.1940

Alternative scenario: 

In case of breakdown of the level 1.1855, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.1855
• Take Profit 1: 1.1830
• Take Profit 2: 1.1800

Comment:

RSI is bullish and indicates an uptrend within a day.

Key levels:

EUR/USD, D1

Pivot: 1.1883

Analysis:

While the price is above 1.1490, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.1883
• Take Profit 1: 1.2000
• Take Profit 2: 1.2150

Alternative scenario:

If the level 1.1490 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 1.1490
• Take Profit 1: 1.1380
• Take Profit 2: 1.1250

Comment:

RSI shows the possibility of an uptrend in a medium term.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

USD/CAD – sell below 1.3290 with 1.3230 and 1.3200 targets as Take Profit. Alternative scenario - if the level 1.3290 is broken-out, buy with the TP 1.3315 and 1.3330.
GBP/USD - long positions above 1.3105 with 1.3200 and 1.3230 targets as Take Profit. Alternative scenario - if the level of 1.3105 is broken-down, sell with the targets 1.3075 and 1.3055 as Take Profit.
AUD/USD – sell below 0.7215 with 0.7180 and 0.7165 as Take Profit targets. Alternative scenario - if the level of 0.7215 is broken-out you should consider buying with the targets 0.7240 and 0.7260 as Take Profit.