EUR/USD | Euro tso US Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

EUR/USD remains on the defensive amid modest USD strength, the downside seems cushioned.

EUR/USD,D1

Pivot: 1.0929

Analysis:

While the price is above 1.0750, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.0929
• Take Profit 1: 1.0970
• Take Profit 2: 1.1060

Alternative scenario:

If level 1.0750 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.06750
• Take Profit 1: 1.0670
• Take Profit 2: 1.0600

Comment:

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