EUR/USD may rise 18 - 28 pips

Pivot

1.0840

Our preference

Long positions above 1.0840 with targets at 1.0865 & 1.0875 in extension.

Alternative scenario

Below 1.0840 look for further downside with 1.0825 & 1.0810 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

1.0900

1.0875

1.0865

1.0847 Last

1.0840

1.0825

1.0810

Number of asterisks represents the strength of support and resistance levels.