Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD has established below 0.9700. Economists at ING expect the pair to build a new 0.90-0.95 trading range.
EUR/USD,D1
Pivot: 0.9693
Analysis:
While the price is below 0.9950, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.9629
- Take Profit 1: 0.9565
- Take Profit 2: 0.9400
Alternative scenario:
If the level 0.9950 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.9950
- Take Profit 1: 1.0200
- Take Profit 2: 1.0370
Comment:
RSI shows the development of a downtrend in the medium term.
| Resistance | Support |
| 1.0370 | 0.9565 |
| 1.0200 | 0.9400 |
| 0.9950 | 0.9300 |
