EUR/USD may rise 29 - 54 pips

Pivot

1.1050

Our preference

Long positions above 1.1050 with targets at 1.1105 & 1.1130 in extension.

Alternative scenario

Below 1.1050 look for further downside with 1.1030 & 1.1015 as targets.

Comment

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

Supports and resistances

1.1150

1.1130

1.1105

1.1076 Last

1.1050

1.1030

1.1015

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