EUR/USD Daily Outlook

Technical Reports

The pair increased towards 1.2363 level but then didn’t manage to close over 1.2354 resistance. Trading is still neutral. Over 1.2363, the recoil from 1.2154 will align repeat test of 1.2555 maximum. Following pivot points include: (S1) 1.2267; (P) 1.2301 (R1) 1.2351.

Decisive breach will imply stronger bullishness. Breach of 1.2154 will indicate rejection from key fibonacci of 1.2516 and trend reversal. Projection should become bearish to 38.2% retracement of 1.0339 to 1.2555 at 1.1708.

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.