Fall Extension In EUR/USD

Technical Reports

Trading is on the downside for retesting minimum 1.1507. Pivot points are at: (S1) 1.1648; (P) 1.1672 (R1) 1.1696.

Overcoming of low 1.1507 will point out resumption of a larger drop from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 to 61.8% retracement at 1.1186. While another recovery is not excluded, upside should be bounded by resistance 1.1851. Trend reversal is expected.

A medium term top was formed at 1.2555 already. The decline from 1.2555 won’t complete while resistance 1.1995 keeps. The pair was rejected by 38.2% retracement of 1.6039 to 1.0339 at 1.2516. Fall from that zone should widen to 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and below.