Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/USD pair oscillates around 1.0695–1.0755 in a narrow trading band during the early European session on Tuesday. Traders prefer to wait on the sidelines ahead of key data from the Eurozone and the US.
EUR/USD,D1
Pivot: 1.0701
Analysis:
While the price is above 1.0500, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0701
- Take Profit 1: 1.0730
- Take Profit 2: 1.0830
Alternative scenario:
If level 1.0500 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0500
- Take Profit 1: 1.0450
- Take Profit 2: 1.0400
Comment:
RSI shows the development of an uptrend in the medium term.
| Resistance | Support |
| 1.0930 | 1.0500 |
| 1.0830 | 1.0450 |
| 1.0730 | 1.0400 |
