Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/USD seems to be in a consolidation phase around 1.1250 after Friday's sharp drop, when it gave up all the ground gained after the ECB's meeting in the second half of last week.
EUR/USD,D1
Pivot: 1.1277
Analysis:
While the price is below 1.1530, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1277
- Take Profit 1: 1.1170
- Take Profit 2: 1.1100
Alternative scenario:
If the level 1.1530 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1530
- Take Profit 1: 1.1690
- Take Profit 2: 1.1800
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.1800 | 1.1170 |
| 1.1690 | 1.1100 |
| 1.1530 | 1.1000 |
