Corrective Fall in EUR/USD Goes On

Technical Reports

Trading in the pair is neutral. The decline from 1.2091 is a correction for the intact increase from 1.0569. Following pivot points include: (S1) 1.1688; (P) 1.1714 (R1) 1.1759.

Breach of resistance 1.1832 will argue conclusion of corrective decline. Then, trading will turn up on the upside for retesting of a maximum 1.2091.

The lift from the medium term bottom of 1.0339 keeps extending. It will resume after ending of the retreat from 1.2091. It will then align 38.2% retracement of 1.6039 to 1.0339 at 1.2516. Trend reversal is so far unlikely. The recoil from 1.0399 has a corrective manner. The long term decline from 1.6039 might be progressing. Sustained resistance from 1.2516 should limit the upside.