Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD continues to rise and adds to Friday's bounce, retesting the 1.0170/75 range earlier in the week.
EUR/USD,D1
Pivot: 1.0024
Analysis:
While the price is below 1.0350, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0164
- Take Profit 1: 0.9950
- Take Profit 2: 0.9850
Alternative scenario:
If the level 1.0350 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0350
- Take Profit 1: 1.0450
- Take Profit 2: 1.0600
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.0600 | 0.9950 |
| 1.0450 | 0.9850 |
| 1.0350 | 0.9750 |
