Source: PaxForex Premium Analytics Portal, Technical Insight
The Euro had a great second week of the year. Economists at Société Générale expect EUR/USD to test the 1.10 level on disappointing US data this week.
EUR/USD,D1
Pivot: 1.0813
Analysis:
While the price is above 1.0700, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0813
- Take Profit 1: 1.0900
- Take Profit 2: 1.1100
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.
| Resistance | Support |
| 1.1200 | 1.0700 |
| 1.1100 | 1.0600 |
| 1.0900 | 1.0500 |
