Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD falls toward 1.0600 on higher expectations of the Fed prolonging higher rates.
EUR/USD,D1
Pivot: 1.0617
Analysis:
While the price is above 1.0700, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0617
- Take Profit 1: 1.0500
- Take Profit 2: 1.0400
Alternative scenario:
If level 1.0700 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0700
- Take Profit 1: 1.0800
- Take Profit 2: 1.0900
Comment:
RSI shows the development of a downtrend in the medium term.
| Resistance | Support |
| 1.0900 | 1.0500 |
| 1.0800 | 1.0400 |
| 1.0700 | 1.0300 |
