EUR/USD's Drop Will Restore

Technical Reports

Pair’s recommencement from 1.1509 is developing and hits 4 hour 55 EMA. Another increase is projected. The resistance area of 1.1822/1995 will restrict upside and cause a drop restoration. Following pivot points include: (S1) 1.1563; (P) 1.1620 (R1) 1.1720.

Under 1.1509, EUR/USD will align 50% retracement of 1.0339 to 1.2555 at 1.1447. Breach will head towards 61.8% retracement at 1.1186.

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.