Range Trading In EUR/USD
Stance of trading is neutral for consolidation. Break of 1.1621 will turn focus back to 1.1814. Pivot points are at: (S1) 1.1442; (P) 1.1468; (R1) 1.1496.
Overcoming of 1.1431 will resume whole decline from 1.1814 and aline low 1.1300. The pair’s near term forecast will remain mildly bearish while resistance 1.1621 keeps. In case of another growth, upside should be limited by resistance 1.1621.
Correction from 1.1300 could have completed at 1.1814 after hitting 38.2% retracement of 1.2555 to 1.1300 at 1.1779. Break of 1.1814 will delay the bearish case and extend the correction from 1.1300 with another rise before completion. Hitting of 1.1300 will resume the downtrend from 1.2555 to 61.8% retracement of 1.0339 to 1.2555 at 1.1186.