Fall In EUR/USD Extends

Technical Reports

Trading is on the downside, as drop from 1.1814 should extend to retest low 1.1300. Pivot points are at: (S1) 1.1343; (P) 1.1388; (R1) 1.1420.

Overcoming of low 1.1300 will resume whole downtrend from 1.2555. The pair’s near term forecast will remain mildly bearish while resistance 1.1621 keeps. Trading above minor resistance 1.1432 will become neutral.

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.