Temporary Minimum Was Formed in EUR/USD

Technical Reports

Trading in the pair is neutral, as a temporary minimum was formed at 1.1908. Pivot points are at: (S1) 1.1722; (P) 1.1753 (R1) 1.1804.

Recoil in the pair is possible. Trading below 1.1688 will target 38.2% retracement of 1.1119 to 1.1908 at 1.1606.

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.