EUR/USD | Euro tso US Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

EUR/USD advances towards 1.0770 as USD Index struggles to find cushion ahead of US CPI

EUR/USD,D1

Pivot: 1.0722

Analysis:

While the price is above 1.0700, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.0722
• Take Profit 1: 1.0900
• Take Profit 2: 1.1000

Alternative scenario:

If the level 1.0700 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.0700
• Take Profit 1: 1.0600
• Take Profit 2: 1.0500

Comment:

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