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: