Pivot point: 1850
The preferred scenario: entering into buying deals at the highest levels of 1850, targeting the levels of 1962.
Alternative scenario: entering short deals below the 1850 levels, targeting the 1700 levels.
Commentary: The EUR/USD pair witnessed the start of a change in the general bearish trend to an upward trend, by breaching the descending price channel, during the trading of the past week, and stabilizing with a weekly closing The highest levels of 1850, in a positive initial sign of a change in the general bearish trend, especially in light of the price stability above the moving averages (50 - 100), in a confirmatory sign of the presence of more rises in the medium and short term.
