EUR/USD | Euro tso US Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

The EUR/USD pair peaked at 1.0579 on Monday, giving up some ground after the US opening to settle at around 1.0510.

EUR/USD,D1

Pivot: 1.0542

Analysis:

While the price is above 1.0300, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.0542
• Take Profit 1: 1.0600
• Take Profit 2: 1.0800

Alternative scenario:

If the level 1.0300 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.0300
• Take Profit 1: 1.0150
• Take Profit 2: 1.0000

Comment:

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