Source: PaxForex Premium Analytics Portal, Technical Insight
As Head of ECB K. Lagarde said in a speech in the European Parliament:
- The medium-term risks to the outlook for the eurozone economy have become more balanced;
- Economic activity is expected to recover strongly in the 2nd half of 2021 with ongoing vaccination and a gradual easing of restrictions;
- In the short term, downside risks remain;
- Asset purchases will be flexible, in line with market conditions.
EUR/USD, 30 min
Pivot: 1.1895
Analysis:
Provided that the currency pair is traded above 1.1870, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.1895
- Take Profit 1: 1.1935
- Take Profit 2: 1.1950
Alternative scenario:
In case of breakdown of the level 1.1870, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.1870
- Take Profit 1: 1.1850
- Take Profit 2: 1.1830
Comment:
RSI is bullish and indicates an uptrend within a day.
Key levels:
| Resistance | Support |
| 1.1985 | 1.1870 |
| 1.1950 | 1.1850 |
| 1.1935 | 1.1830 |
EUR/USD, D1
Pivot: 1.1894
Analysis:
While the price is below 1.2030, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1894
- Take Profit 1: 1.1800
- Take Profit 2: 1.1700
Alternative scenario:
If the level 1.2030 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2030
- Take Profit 1: 1.2180
- Take Profit 2: 1.2270
Comment:
RSI shows the development of a downtrend in a medium term.
Key levels:
| Resistance | Support |
| 1.2270 | 1.1800 |
| 1.2180 | 1.1700 |
| 1.2030 | 1.1610 |
We also advise you to pay attention to the following currency pairs for intraday trading:
USD/CAD – long positions above 1.2480 with 1.2550 and 1.2570 targets as Take Profit. Alternative scenario - if the level of 1.2480 is broken-down, sell with the targets 1.2460 and 1.2440 as Take Profit.
GBP/USD - sell below 1.3860 with 1.3790 and 1.3775 targets as Take Profit. Alternative scenario - if the level 1.3860 is broken-out, buy with the TP 1.3885 and 1.3910.
AUD/USD – sell below 0.7745 with 0.7670 and 0.7640 targets as Take Profit. Alternative scenario - if the level 0.7745 is broken-out, buy with the TP 0.7770 and 0.7795.
