Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD falls to near 1.0650 as the ECB expects to pursue more aggressive rate cuts than the Fed.
EUR/USD,D1
Pivot: 1.0634
Analysis:
While the price is below 1.0800, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0634
- Take Profit 1: 1.0600
- Take Profit 2: 1.0500
Alternative scenario:
If level 1.0800 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0800
- Take Profit 1: 1.0900
- Take Profit 2: 1.1100
Comment:
RSI shows the development of a downtrend in the medium term.
| Resistance | Support |
| 1.1000 | 1.0600 |
| 1.0900 | 1.0500 |
| 1.0800 | 1.0400 |
