Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD hovers around 1.0600 with a positive bias as the US Dollar faces profit-taking selling.
EUR/USD,D1
Pivot: 1.0584
Analysis:
While the price is below 1.0700, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0584
- Take Profit 1: 1.0560
- Take Profit 2: 1.0500
Alternative scenario:
If level 1.0700 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0700
- Take Profit 1: 1.0900
- Take Profit 2: 1.1000
Comment:
RSI shows the development of a downtrend in the medium term.
| Resistance | Support |
| 1.1000 | 1.0560 |
| 1.0900 | 1.0500 |
| 1.0700 | 1.0400 |
