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Currency Analyst since 2010

EUR/USD: trade recommendations

EUR/USD has made bearish movements in recent days, because this pair found resistance near the $1.3640 level. Now, the EUR/USD is trying to consolidate below the 500 EMA. In addition, this pair has made a bullish retracement to the 50.0 Fibo level ($1.3599). It is very likely that the EUR/USD perform ​​a pullback at that level. If successful, it is expected to fall to the support level of $1.3564.

Meanwhile, EUR/USD is trying to stay above the 200 EMA (Green line), which could serve as dynamic support in this pair. If EUR/USD does make a breakout on the resistance level of $1.3607 (61.8 Fibo level), next target would be the level of $1.3618.

Trading Recommendations: Place sell orders at current levels with take profit at $1.3564 and stop loss at $1.3610. Alternatively, place buy orders only if the EUR/USD does a breakout at the 61.8 Fibo level.

 

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