Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/USD rebound is gaining momentum north from 1.0400 on Monday.
EUR/USD,D1
Pivot: 1.0456
Analysis:
While the price is below 1.0650, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0456
- Take Profit 1: 1.0300
- Take Profit 2: 1.0170
Alternative scenario:
If the level 1.0650 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0650
- Take Profit 1: 1.0800
- Take Profit 2: 1.0940
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.0940 | 1.0300 |
| 1.0800 | 1.0170 |
| 1.0650 | 1.0100 |
