EUR/USD | Euro to US Dollar Trading Analysis
EUR/USD | Euro to US Dollar Trading Analysis
Source: PaxForex Premium Analytics Portal, Technical Insight
Fed Chairman Jerome Powell announced a major policy shift on Thursday concerning "targeting average inflation. It means that the central bank will be more inclined to allow inflation to exceed the standard target of 2 percent before raising interest rates. In addition to changing inflation, the Fed has changed its approach to employment to focus on people with low incomes.
EUR/USD, 30 min
Pivot: 1.1874
Analysis:
Provided that the currency pair is traded above 1.1835, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.1874
- Take Profit 1: 1.1900
- Take Profit 2: 1.1920
Alternative scenario:
In case of breakdown of the level 1.1835, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.1835
- Take Profit 1: 1.1810
- Take Profit 2: 1.1790
Comment:
RSI is bullish and indicates an uptrend within a day.
Key levels:
Resistance | Support |
1.1950 | 1.1835 |
1.1920 | 1.1810 |
1.1900 | 1.1790 |
EUR/USD, D1
Pivot: 1.1855
Analysis:
While the price is above 1.1640, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1855
- Take Profit 1: 1.2000
- Take Profit 2: 1.2150
Alternative scenario:
If the level 1.1640 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1640
- Take Profit 1: 1.1490
- Take Profit 2: 1.1380
Comment:
RSI shows the continuation of an uptrend in a medium term.
Key levels:
Resistance | Support |
1.2300 | 1.1640 |
1.2150 | 1.1490 |
1.2000 | 1.1380 |
We also advise you to pay attention to the following currency pairs for intraday trading:
USD/CAD – sell below 1.3140 with 1.3080 and 1.3060 targets as Take Profit. Alternative scenario - if the level 1.3140 is broken-out, buy with the TP 1.3165 and 1.3190.
GBP/USD - long positions above 1.3190 with 1.3285 and 1.3320 targets as Take Profit. Alternative scenario - if the level of 1.3190 is broken-down, sell with the targets 1.3160 and 1.3130 as Take Profit.
AUD/USD – buy above 0.7250 with 0.7310 and 0.7340 as Take Profit targets. Alternative scenario - if the level of 0.7250 is broken-down you should consider selling with the targets 0.7230 and 0.7210 as Take Profit.