Despite leaving the downward trend, the growth of the couple may appear as a temporary reinforcement. The EUR pair can hardly show strong growth even further: the eurozone's economic problems are not solved, stimulus measures do not work, so the EU economy would not be quickly restore. The decline of the USD is possibly due to the change of the US Administration. FRS is still planning the rise in interest rates in stages, which will attract investors to the USD. So the investment of the upward trend is expected in the medium term, followed by a downward wave formation and the return of the pair to the downward trend. In the weekly chart the indicators confirm the expectation of the decline. The long position volumes of the MACD histogram are at the high level. The move to the levels of 1.0745, 1.0815 is possible.
Open short positions at current level and pending short positions at 1.0745, 1.0815, with the target at 1.0480, and at long term 1.0350, 1.0000. Stop loss is at 1.0870.
Recommendation to SELL Entry point 1.0693 Take Profit 1.0480, 1.0350, 1.0000 Stop 1.0870 loss Key levels 1.0350, 1.0435, 1.0420, 1.0520, 1.0610, 1.0655, 1.0705, 1.0730, 1.0745, 1.0815, 1.0850, 1.0915, 1.1000 Alternative scenario
Recommendation LIMIT OF SALE Entry point 1.0745, 1.0815 Take Profit 1.0480, 1.0350, 1.0000 Stop 1.0870 loss Key levels 1.0350, 1.0435, 1.0420, 1.0520, 1.0610, 1.0655, 1.0705, 1.0730, 1.0745, 1.0815, 1.0850, 1.0915, 1.1000