At the time of publication of this article, the EUR / USD pair is trading near the key long-term support level of 1.1940. Its breakdown and breakdown of the 1.1880 support level increases the risks of breaking the EUR / USD bullish trend (see also "Fundamental Analysis and Recommendations")
In case of further decline, EUR / USD may head towards the key long-term support level 1.1610. Its breakdown will finally break the EUR / USD bullish trend.
In an alternative scenario, the decline in EUR / USD will stop near the current marks and the support level of 1.1940, and the rise to the zone above the resistance level of 1.2010 will start a new wave of EUR / USD growth with targets located near the recent highs of 1.2180, 1.2200, 1.2260. More distant growth targets are located at resistance levels 1.2340, 1.2450, 1.2500, 1.2580, 1.2600.
Support levels: 1.1940, 1.1880, 1.1780, 1.1710, 1.1610
Resistance levels: 1.2010, 1.2070, 1.2122, 1.2128, 1.2180, 1.2260, 1.2340, 1.2450, 1.2580, 1.2600
Trading Recommendations
Sell Stop 1.1910. Stop-Loss 1.1960. Take-Profit 1.1880, 1.1780, 1.1710, 1.1610
Buy Stop 1.1960. Stop-Loss 1.1910. Take-Profit 1.2010, 1.2070, 1.2122, 1.2128, 1.2180, 1.2260, 1.2340, 1.2450, 1.2580, 1.2600
*) EUR/USD: Current Fundamental Analysis and Market Expectations
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