The EUR/USD Pair Has Formed a Temporary Top

Trading in the pair is neutral, as a temporary top was formed at 1.1908. Pivot points are at: (S1) 1.1795; (P) 1.1853 (R1) 1.1912.

Further growth in the pair is awaited. Overcoming of 1.1612 will point out a short term top. Correction in the pair is possible.

The pair has created a bottom at 1.0339. Overcoming of 55 month EMA will align the key fibonacci level at 38.2% retracement of 1.6039 to 1.0339 at 1.2516. Growth from 1.0339 is sustained, but long term uptrend is unlikely. Firm resistance from 1.2516 might bound the upside.