Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD is trading near the bottom of the September range, which is near the yearly low at 1.1663. The short-term sentiment remains neutral with a bearish bias as the pair has attracted sellers near the moderately bearish 20 SMA at 1.1720.
EUR/USD,D1
Pivot: 1.1692
Analysis:
While the price is below 1.1910, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1692
- Take Profit 1: 1.1660
- Take Profit 2: 1.1580
Alternative scenario:
If the level 1.1910 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1910
- Take Profit 1: 1.1980
- Take Profit 2: 1.2060
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.2060 | 1.1660 |
| 1.1980 | 1.1580 |
| 1.1910 | 1.1500 |
