Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD adds to the ongoing retracement and loses ground for the third session in a row on Monday. A deeper pullback could breach 1.0200 and thus pave the way for extra losses to the 100-day SMA around 1.0020. South of this level, a potential visit to the parity zone could return to the radar.
EUR/USD,D1
Pivot: 1.0251
Analysis:
While the price is above 1.0100, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0251
- Take Profit 1: 1.0500
- Take Profit 2: 1.0800
Alternative scenario:
If the level 1.0100 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0100
- Take Profit 1: 0.9935
- Take Profit 2: 0.9750
Comment:
RSI shows the development of an uptrend in the medium term.
| Resistance | Support |
| 1.0900 | 1.0100 |
| 1.0800 | 0.9935 |
| 1.0500 | 0.9750 |
