Source: PaxForex Premium Analytics Portal, Technical Insight
According to Reuters, President and CEO Federal Reserve Bank of Dallas R. Kaplan said that the economy will need to be "weaned" off the Fed's super-softening policy at the earliest opportunity. He also noted the difficulty of striking the right balance between too hasty and too late a decision when choosing a further monetary policy.
EUR/USD, 30 min
Pivot: 1.2067
Analysis:
Provided that the currency pair is traded above 1.2035, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.2067
- Take Profit 1: 1.2085
- Take Profit 2: 1.2110
Alternative scenario:
In case of breakout of the level 1.2035, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.2035
- Take Profit 1: 1.2015
- Take Profit 2: 1.1995
Comment:
RSI is bullish and indicates an uptrend within a day.
Key levels:
| Resistance | Support |
| 1.2135 | 1.2035 |
| 1.2110 | 1.2015 |
| 1.2085 | 1.1995 |
EUR/USD, D1
Pivot: 1.2037
Analysis:
While the price is above 1.1830, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2037
- Take Profit 1: 1.2130
- Take Profit 2: 1.2240
Alternative scenario:
If the level 1.1830 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1830
- Take Profit 1: 1.1700
- Take Profit 2: 1.1600
Comment:
RSI shows the development of an uptrend in a medium term.
Key levels:
| Resistance | Support |
| 1.2340 | 1.1830 |
| 1.2240 | 1.1700 |
| 1.2130 | 1.1600 |
We also advise you to pay attention to the following currency pairs for intraday trading:
USD/CAD – short positions below 1.2525 with 1.2465 and 1.2450 targets as Take Profit. Alternative scenario - if the level of 1.2525 is broken-out, buy with the targets 1.2545 and 1.2560 as Take Profit.
GBP/USD - buy above 1.3965 with 1.4060 and 1.4100 targets as Take Profit. Alternative scenario - if the level 1.3965 is broken-down, sell with the TP 1.3940 and 1.3905.
AUD/USD – buy above 0.7765 with 0.7845 and 0.7870 targets as Take Profit. Alternative scenario - if the level 0.7765 is broken-down, sell with the TP 0.7745 and 0.7720.
