FX.co ★ EUR/USD - Watch for potential downside rotation towards 1.1850. Critical pivot level on the test

This isn't much of a surprise as Suga, the current chief Cabinet secretary, is allegedly among the frontrunners to succeed Abe as prime minister. Just be mindful that the election is reportedto take place on 14 September.

As I discussed in the previous review, the EUR was in contraction but so far we can see that buyers are in control today and heading towards the 1,1950.

Further Development

Analyzing the current trading chart of the EUR/USD, I found that EUR is on critical pivot resistance at 1,1930 and that it is go no go level for EUR.

1-Day relative strength performance Finviz:

Based on the graph above I found that on the top of the list we got Cocoa and Coffee and on the bottom Lean Hogs and Lumber.

EUR is slightly positive but with no strong momentum to the upside.

Key Levels:

Resistance:1,1930

1. Support level : 1,1850