EUR/USD | Euro to US Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

According to Reuters, St. Louis Fed President James Bullard  said:

• The U.S. may be approaching the end point of the pandemic, so then the focus can shift further to the subsequent monetary policy of the 'post-pandemic' era;
• There is a 50% chance that the U.S. will enter the high productivity regime last seen in the mid-1990s;
• The issue of MBS buying during the housing boom is a good topic once the Fed rolls out a broader discussion of rolling back QE.

EUR/USD, 30 min

Pivot: 1.2177

Analysis:

Provided that the currency pair is traded below 1.2200, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.2177
• Take Profit 1: 1.2160
• Take Profit 2: 1.2145

Alternative scenario: 

In case of breakout of the level 1.2200, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.2200
• Take Profit 1: 1.2230
• Take Profit 2: 1.2245

Comment:

RSI is bullish and indicates a downtrend within a day.

Key levels:

EUR/USD, D1

Pivot: 1.2220

Analysis:

While the price is above 1.1945, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.2220
• Take Profit 1: 1.2350
• Take Profit 2: 1.2450

Alternative scenario:

If the level 1.1945 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.1945
• Take Profit 1: 1.1830
• Take Profit 2: 1.1700

Comment:

RSI shows the development of an uptrend in a medium term.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

USD/CAD – buy above 1.2095 with 1.2160 and 1.2180 targets as Take Profit. Alternative scenario - if the level of 1.2095 is broken-down, sell  with the targets 1.2075 and 1.2055 as Take Profit. 
GBP/USD - short positions below 1.4135 with 1.4075 and 1.4055 targets as Take Profit. Alternative scenario - if the level 1.4135 is broken-out, buy with the TP 1.4160 and 1.4180.
AUD/USD – sell below 0.7760 with 0.7690 and 0.7670 targets as Take Profit. Alternative scenario - if the level 0.7760 is broken-out, buy with the TP 0.7780 and 0.7800.