EUR/USD: things are neutral, no short-term catalysts on the horizon

KEY CHART ELEMENTS

In medium-term bearish dynamics, the short-term rebound is blocked at the $1.03 level. The multiple failures on the resistance suggest a continuation of the bearish trend.

MEDIUM-TERM FORECAST

Given the key chart factors we have mentioned, our medium-term view on the EUR/USD is negative.

Our entry point is $1.0223. The price target of our bearish scenario is $1.0000. In order to preserve the capital invested, we advise you to place a protective stop at $1.0400.

The expected return on this Forex strategy is 223 pips and the risk of loss is 177 pips.