EUR/USD's Diapason Prevails

Technical Reports

The pair keeps sticking inside of 1.1713/1839 diapason. Trading stays neutral. Breach of 1.1839 will resume the recoil from 1.1509. 1.1995 resistance should bound upside and cause reversal. Following pivot points include: (S1) 1.1745; (P) 1.1773 (R1) 1.1822.

Breach of 1.1713 will confirm ending of the correction. In that case, trading will turn up on the downside and deeper drop from 1.2555 will extend 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.