Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/USD pair has slipped to near 1.0660 in the Asian session as the risk appetite of the market participants has trimmed ahead of the global PMI figures. Investors are worried that higher interest rates by the majority of central banks in taming the stubborn inflation have impacted the scale of economic activities.
EUR/USD,D1
Pivot: 1.0668
Analysis:
While the price is below 1.0750, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0668
- Take Profit 1: 1.0500
- Take Profit 2: 1.0300
Alternative scenario:
If the level 1.0750 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0750
- Take Profit 1: 1.0875
- Take Profit 2: 1.1000
Comment:
RSI shows the development of a downtrend in the medium term.
| Resistance | Support |
| 1.1000 | 1.0500 |
| 1.0875 | 1.0300 |
| 1.0750 | 1.0150 |
