EUR/USD may rise 29 - 54 pips

Pivot

1.0930

Our preference

Long positions above 1.0930 with targets at 1.0980 & 1.1005 in extension.

Alternative scenario

Below 1.0930 look for further downside with 1.0910 & 1.0890 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

1.0951 Last

1.0930

1.0910

1.0890

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