EUR/USD’s Trading Tone

Pair’s trading tone is neutral. Short term prognosis remains bullish if the whole 1.1712 accumulation of support holds. Following pivot points include: (S1) 1.1843; (P) 1.1861 (R1) 1.1875.

Over 1.1901, EUR/USD will align the resistance of 1.1960. Breach of 1.1960 will prolong the intact increase from 1.1553 and head towards the maximum of 1.2091.

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.