Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD fumbled on Monday, kicking off a new trading week with a downside push as price action waffled back into familiar 12-week lows just above the 1.0800 handle.
EUR/USD,D1
Pivot: 1.0816
Analysis:
While the price is below 1.1000, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0816
- Take Profit 1: 1.0800
- Take Profit 2: 1.0700
Alternative scenario:
If level 1.1000 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1000
- Take Profit 1: 1.1100
- Take Profit 2: 1.1200
Comment:
RSI shows the development of a downtrend in the medium term.
Resistance | Support |
1.1200 | 1.0800 |
1.1100 | 1.0700 |
1.1000 | 1.0600 |