Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD: downward pressure has weakened, consolidation is ahead - UOB Group.
EUR/USD,D1
Pivot: 1.1770
Analysis:
While the price is below 1.1950, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1770
- Take Profit 1: 1.1700
- Take Profit 2: 1.1600
Alternative scenario:
If the level 1.1950 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1950
- Take Profit 1: 1.2050
- Take Profit 2: 1.2095
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.2095 | 1.1700 |
| 1.2050 | 1.1600 |
| 1.1950 | 1.1490 |
