Source: PaxForex Premium Analytics Portal, Technical Insight
UOB Group analysts write that EUR/USD may continue falling in the short term.
EUR/USD,D1
Pivot: 1.1948
Analysis:
While the price is below 1.2150, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1948
- Take Profit 1: 1.1880
- Take Profit 2: 1.1775
Alternative scenario:
If the level 1.2150 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2150
- Take Profit 1: 1.2265
- Take Profit 2: 1.2350
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.2350 | 1.1880 |
| 1.2265 | 1.1775 |
| 1.2150 | 1.1700 |
