Source: PaxForex Premium Analytics Portal, Technical Insight
The Euro remains supported by ECB officials fighting speculation of a 25 bps hike. S&P Global Manufacturing and Services PMI surveys will likely be a reality check for the strength of the shared currency.
EUR/USD,D1
Pivot: 1.0895
Analysis:
While the price is above 1.0700, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0895
- Take Profit 1: 1.1000
- Take Profit 2: 1.1100
Alternative scenario:
If the level 1.0700 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0700
- Take Profit 1: 1.0600
- Take Profit 2: 1.0500
Comment:
RSI shows the development of an uptrend in the medium term.
| Resistance | Support |
| 1.1200 | 1.0700 |
| 1.1100 | 1.0600 |
| 1.1000 | 1.0500 |
