Stronger Bullishness in EUR/USD

Technical Reports

Pair’s recoil is progressing. Trading condition is neutral. 1.2445 level is aligned. Breach in that zone will push trading to the upside to the maximum of 1.2555. Sustained breach will suggest stronger bullishness. Following pivot points include: (S1) 1.2334; (P) 1.2370 (R1) 1.2427.

Breach of 1.2268 will indicate extension of the drop from 1.2555. In that case, trading will turn up on the downside to 1.2154 support and lower.

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.