Diapason in EUR/USD

Technical Reports

Pair’s trading stays neutral. EUR/USD is holding inside of diapason under 1.1839. Surge from 1.1509 might be progressing while the whole 1.1713 level holds. The increase is viewed as correction. 1.1995 resistance should bound upside and cause reversal. Following pivot points include: (S1) 1.1762; (P) 1.1792 (R1) 1.1815.

Breach of 1.1713 minor support will extend deeper drop from 1.2555 through 1.1509 to 50% retracement of 1.0339 to 1.2555 at 1.1447.

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.