Source: PaxForex Premium Analytics Portal, Technical Insight
The EUR/USD pair is recovering from the weekly lows to 1.1615.
EUR/USD,D1
Pivot: 1.1609
Analysis:
While the price is below 1.1755, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1609
- Take Profit 1: 1.1500
- Take Profit 2: 1.1420
Alternative scenario:
If the level 1.1755 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1755
- Take Profit 1: 1.1840
- Take Profit 2: 1.1910
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.1910 | 1.1500 |
| 1.1840 | 1.1420 |
| 1.1755 | 1.1300 |
