Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/USD may continue to decline amid the continued gloomy market sentiment.
EUR/USD,D1
Pivot: 1.1718
Analysis:
While the price is below 1.1900, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1718
- 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 | 1.1680 |
| 1.1980 | 1.1580 |
| 1.1900 | 1.1500 |
