Source: PaxForex Premium Analytics Portal, Technical Insight
The USD is vulnerable to a time of weakness around the end of the year. This is due to US tax balancing that regularly sees USD flows out of US companies into daughter companies. So, the USD does tend to be very weak heading into year-end
EUR/USD,D1
Pivot: 1.0664
Analysis:
While the price is above 1.0400, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0664
- Take Profit 1: 1.0800
- Take Profit 2: 1.0900
Alternative scenario:
If the level 1.0400 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0400
- Take Profit 1: 1.0300
- Take Profit 2: 1.0150
Comment:
RSI shows the development of an uptrend in the medium term.
| Resistance | Support |
| 1.1000 | 1.0400 |
| 1.0900 | 1.0300 |
| 1.0800 | 1.0150 |
