Corrective Recovery In EUR/USD

Technical Reports

Trading is neutral, as corrective recovery from 1.1215 might extend. Trading below minor support 1.1321 will back to the downside for 1.1215 and then 1.1186. Pivot points are at: (S1) 1.1351; (P) 1.1387; (R1) 1.1452.

Overcoming of 1.1499 will indicate a near term trend reversal and turn forecast bullish for resistance 1.1814. Upside of recovery should be limited below resistance 1.1499.

The downtrend from a medium term top1.2555 has just resumed for 61.8% retracement of 1.0339 to 1.2555 at 1.1186 next. hitting of that zone will aline retest on 1.0339. Overcoming of resistance of 1.1814 will confirm a medium term bottoming.