Short Term Minimum In EUR/USD

Technical Reports

Pair’s consolidation is progressing above the short term minimum of 1.1507. Trading stays neutral. Firmer recommencement is expected. Following pivot points include: (S1) 1.1589; (P) 1.1641 (R1) 1.1691.

1.1851 resistance will bound upside and lead to a decline restoration. Fall from 1.2555 is resuming. Strong breach of 1.1507 will push EUR/USD through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186.

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 progressing.