Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/USD is regaining some of the positions lost on Friday. If the bulls push harder, the pair might try to move towards the slight resistance at the high of June 16 at 1.0601.
EUR/USD,D1
Pivot: 1.0503
Analysis:
While the price is above 1.0650, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0503
- Take Profit 1: 1.0350
- Take Profit 2: 1.0200
Alternative scenario:
If the level 1.0650 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0650
- Take Profit 1: 1.0800
- Take Profit 2: 1.0940
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.0940 | 1.0350 |
| 1.0800 | 1.0200 |
| 1.0650 | 1.0100 |
