EUR/USD’s Medium Term Bottom

Technical Reports

Pair’s trading character is neutral. EUR/USD is holding inside of 1.2205/2555 diapason. Breach of 1.2555 will confirm bullishness and extend the uptrend to 100% projection of 1.0569 to 1.2091 from 1.1553 at 1.3075. Following pivot points include: (S1) 1.2276; (P) 1.2314 (R1) 1.2369.

Breach of 1.2205 will suggest rejection from the key fibonacci level of 1.2516 and reversal.

Lift from the medium term bottom of 1.0339 has a corrective nature. Firm breach of 1.2516 will suggest bullishness and align 38.2% retracement of 1.6039 to 1.0339 at 1.3862. Rejection from 1.2516 will boost long term bearish prognosis and suggest repeat test of 1.0039 level. Strong breach of 1.2516 will suggest bullishness and align 61.8% retracement of 1.6039 to 1.0339 at 1.3862.