EUR/USD’s Lift Restoration

Technical Reports

Pair's breach of 1.1960 resistance marks restoration of lift from 1.1553. Trading is on the upside towards 100% projection of 1.1553 to 1.1960 from 1.1717 at 1.2124. Following pivot points include: (S1) 1.1904; (P) 1.1931 (R1) 1.1970.

Breach of 1.1816 minor support will suggest ending of rally. If EUR/USD pulls back, short term prognosis will remain bullish.

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.