EUR/USD | Euro tso US Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

Euro bears keep reins below 1.0980 despite corrective bounce ahead of US Retail Sales.

EUR/USD,D1

Pivot: 1.0920

Analysis:

While the price is below 1.1100, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.0920
• Take Profit 1: 1.0850
• Take Profit 2: 1.0750

Alternative scenario:

If level 1.1100 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.1100
• Take Profit 1: 1.1065
• Take Profit 2: 1.1150

Comment:

RSI shows the development of a downtrend in the medium term.