EUR/USD's Trading Is Still Neutral

Technical Reports

Pair’s trading stays neutral while the whole minor resistance of 1.1639 is present. Actual fall from 1.2555 is expanding and it’s expected to align 50% retracement of 1.0339 to 1.2555 at 1.1447. Breach will head towards 61.8% retracement at 1.1186. Following pivot points include: (S1) 1.1485; (P) 1.1563 (R1) 1.1616.

Over the minor resistance of 1.1639, trading will turn up in the neutral position and EUR/USD will stage consolidation. While support turned resistance of 1.1822, short term forecast will stay bearish.

There has been a rejection from 38.2% retracement of 1.6039 to 1.0339 at 1.2516. The fall is expected to extend. Breach of 38.2% retracement of 1.0339 to 1.2555 at 1.1708 will align 61.8% retracement at 1.1186. While 1.1995 resistance is present, the drop from 1.2555 will be considered to be progressing.