EUR/USD may rise 16 - 31 pips

Pivot

1.1105

Our preference

Long positions above 1.1105 with targets at 1.1140 & 1.1155 in extension.

Alternative scenario

Below 1.1105 look for further downside with 1.1090 & 1.1070 as targets.

Comment

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

Supports and resistances

1.1170

1.1155

1.1140

1.1124 Last

1.1105

1.1090

1.1070

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