Source: PaxForex Premium Analytics Portal, Technical Insight
The pair remains bullish, taking advantage of the general weakening of the dollar after the release of disappointingly weak U.S. consumer sentiment data for August by the University of Michigan.
EUR/USD,D1
Pivot: 1.1794
Analysis:
While the price is below 1.1900, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1794
- Take Profit 1: 1.1700
- Take Profit 2: 1.1580
Alternative scenario:
If the level 1.1900 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1900
- Take Profit 1: 1.1980
- Take Profit 2: 1.2100
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.2100 | 1.1700 |
| 1.1980 | 1.1600 |
| 1.1900 | 1.1500 |
