EUR/USD | Euro to US Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

EUR/USD: It is likely too early for a recovery rally – Commerzbank.

EUR/USD,D1

Pivot: 1.0120

Analysis:

While the price is above 1.0050, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.0120
• Take Profit 1: 1.0260
• Take Profit 2: 1.0350

Alternative scenario:

If the level 1.0050 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.0050
• Take Profit 1: 0.9950
• Take Profit 2: 0.9850

Comment:

RSI shows the development of an uptrend in the medium term.