Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD trades near 1.0500 with bearish bias due to risk-off mood.
EUR/USD,D1
Pivot: 1.0477
Analysis:
While the price is below 1.0600, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0477
- Take Profit 1: 1.0400
- Take Profit 2: 1.0300
Alternative scenario:
If level 1.0600 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0600
- Take Profit 1: 1.0800
- Take Profit 2: 1.0900
Comment:
RSI shows the development of a downtrend in the medium term.
| Resistance | Support |
| 1.0900 | 1.0400 |
| 1.0800 | 1.0300 |
| 1.0600 | 1.0200 |
