EUR/USD may rise 30 - 55 pips

Pivot

1.0920

Our preference

Long positions above 1.0920 with targets at 1.0980 & 1.1005 in extension.

Alternative scenario

Below 1.0920 look for further downside with 1.0890 & 1.0865 as targets.

Comment

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

Supports and resistances

1.1020

1.1005

1.0980

1.0950 Last

1.0920

1.0890

1.0865

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