EUR/USD | Euro tso US Dollar Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

EUR/USD: A breakdown of 1.0650 appears unlikely – UOB Group.

EUR/USD,D1

Pivot: 1.0686

Analysis:

While the price is below 1.0750, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.0686
• Take Profit 1: 1.0600
• Take Profit 2: 1.0500

Alternative scenario:

If the level 1.0750 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.0750
• Take Profit 1: 1.0830
• Take Profit 2: 1.0920

Comment:

RSI shows the development of a downtrend in the medium term.