Source: PaxForex Premium Analytics Portal, Technical Insight

EUR/USD clings to recovery gains below 1.0400 ahead of German inflation.

EUR/USD,D1

Pivot: 1.0357

Analysis:

While the price is above 1.0100, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.0357
• Take Profit 1: 1.0500
• Take Profit 2: 1.0800

Alternative scenario:

If the level 1.0100 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.0100
• Take Profit 1: 0.9935
• Take Profit 2: 0.9750

Comment:

RSI shows the development of an uptrend in the medium term.