Stay updated on the EUR/USD intraday market with our website. Discover why the bias remains bullish in this comprehensive analysis. (Expert Advisor Free)
Pivot Point: 1.0850
Our Preference:
For traders, maintaining long positions above the (Expert Advisor Free) pivot point of 1.0850 is advisable. The initial target to aim for is 1.0890, with a further extension target at 1.0910. This bullish stance is supported by current market indicators and the overall sentiment.
Alternative Scenario:
If the EUR/USD pair falls below the pivot point of 1.0850, traders should prepare for additional downside movement. In this case, the targets to watch are 1.0835 and 1.0820.
Technical Commentary:
The Relative Strength Index (RSI) suggests a lack of downward momentum, indicating that the bullish trend may continue. Traders should monitor the RSI for any shifts that might suggest a change in market direction.
Key Support and Resistance Levels
| Level | Type | Price |
|---|---|---|
| R3 | Resistance | 1.0930 |
| R2 | Resistance | 1.0910 |
| R1 | Resistance | 1.0890 |
| Last | Price | 1.0864 |
| Pivot | Support | 1.0850 |
| S1 | Support | 1.0835 |
| S2 | Support | 1.0820 |
Our Preference:
Long positions above 1.0850 with targets at 1.0890 and 1.0910 in extension.
Alternative Scenario:
Below 1.0850, look for further downside with targets at 1.0835 and 1.0820.
Market Overview:
Currently, the last traded price of (Expert Advisor Free) EUR/USD stands at 1.0864. Given the bullish bias above the pivot point, traders should watch for upward movements toward the resistance levels. If the price action reverses and breaks below 1.0850, the market may test the identified support levels, potentially altering the current bullish sentiment.