EUR/USD's Correction

Technical Reports

Pair’s corrective recoil from 1.1509 is expected to resume. The resistance area of 1.1822/1995 will bound upside and draw a decline restoration. Under the minor support of 1.1617, EUR/USD will align repeat test of 1.1509 minimum. Following pivot points include: (S1) 1.1668; (P) 1.1701 (R1) 1.1749.

Breach will extend the fall from 1.2555 and align 50% retracement of 1.0339 to 1.2555 at 1.1447. Break will head towards 61.8% retracement at 1.1186 next.

There has been a rejection from 38.2% retracement of 1.6039 to 1.0339 at 1.2516. A medium term top has been created at 1.2555. The fall is expected to extend for 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and lower. While 1.1995 resistance is present, the drop from 1.2555 will be considered to be progressing.