EUR/USD | Euro tso US Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

EUR/USD looks set to test 1.0700 ahead of Fed Powell’s testimony and US Employment.

EUR/USD,D1

Pivot: 1.0684

Analysis:

While the price is below 1.0750, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.0684
• Take Profit 1: 1.0500
• Take Profit 2: 1.0300

Alternative scenario:

If the level 1.0750 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.0750
• Take Profit 1: 1.0875
• Take Profit 2: 1.1000

Comment:

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