EUR/USD’s Actual Recommencement
Pair’s trading stays neutral, shrugging of actual recommencement. Over 1.1862, bullish sentiment will be boosted. If that happens, trading will turn up on the upside towards 1.1960 resistance. Following pivot points include: (S1) 1.1794; (P) 1.1821 (R1) 1.1866.
Firm breach of 1.1712 accumulation of support will suggest that recoil from 1.1553 has ended at 1.1960. Larger drop will align 1.1553 and medium term fall from 1.2091 will enlarge.
The lift from a medium term bottom of 1.0339 is a corrective. If further rally occurs, 38.2% retracement of 1.6039 to 1.0339 at 1.2516 will bound upside and cause reversal. Stable trading under 55 week EMA will confirm that the medium term recoil has finished. The repeat test of 1.0339 minimum is possible.