Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD: has recovered above the 21-DMA and is aiming for 1.1615.
EUR/USD,D1
Pivot: 1.1586
Analysis:
While the price is below 1.1690, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1586
- Take Profit 1: 1.1490
- Take Profit 2: 1.1410
Alternative scenario:
If the level 1.1690 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1690
- Take Profit 1: 1.1775
- Take Profit 2: 1.1910
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.1910 | 1.1490 |
| 1.1775 | 1.1410 |
| 1.1690 | 1.1360 |
