EUR/USD's Trading Is Still Neutral
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.