EUR/USD may rise 30 - 50 pips

Pivot

1.1100

Our preference

Long positions above 1.1100 with targets at 1.1150 & 1.1170 in extension.

Alternative scenario

Below 1.1100 look for further downside with 1.1085 & 1.1070 as targets.

Comment

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

Supports and resistances

1.1190

1.1170

1.1150

1.1120 Last

1.1100

1.1085

1.1070

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