Source: PaxForex Premium Analytics Portal, Technical Insight

EUR/USD now seen navigating within 1.0600-1.0800 – UOB.

EUR/USD,D1

Pivot: 1.0708

Analysis:

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

• Time frame: D1
• Recommendation: short position
• Entry point: 1.0708
• 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.