Drop In EUR/USD Continues

Technical Reports

Trading is on the downside, as drop from 1.1472 continues for retesting support 1.1215. Trading above minor resistance 1.1383 will back to the upside for resistance 1.1499. Pivot points are at: (S1) 1.1264; (P) 1.1304; (R1) 1.1332.

Overcoming of 1.1499 will indicate a near term trend reversal and turn forecast bullish for resistance 1.1814. Hitting of low 1.1215 will resume a medium term downtrend for fibonacci level 1.1186. The pair’s forecast will stay bearish while resistance 1.1499 keeps.

The downtrend from a medium term top 1.2555 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.