Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD licks its wounds around mid-1.1000s as Eurozone, German data flag recession fears, prod ECB hawks.
EUR/USD,D1
Pivot: 1.1062
Analysis:
While the price is above 1.1100, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1062
- Take Profit 1: 1.1000
- Take Profit 2: 1.0900
Alternative scenario:
If level 1.1100 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1100
- Take Profit 1: 1.1150
- Take Profit 2: 1.1250
Comment:
RSI shows the development of an uptrend in the medium term.
| Resistance | Support |
| 1.1500 | 1.1100 |
| 1.1400 | 1.1000 |
| 1.1300 | 1.0900 |
