EUR/USD may rise 27 - 47 pips

Pivot

1.1170

Our preference

Long positions above 1.1170 with targets at 1.1210 & 1.1230 in extension.

Alternative scenario

Below 1.1170 look for further downside with 1.1145 & 1.1125 as targets.

Comment

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

Supports and resistances

1.1250

1.1230

1.1210

1.1183 Last

1.1170

1.1145

1.1125

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