Technical Analysis for EURO

Technical Analysis for EURO

The pair attempted to move to the upside yesterday but Linear Regression Indicator 34 halted the upside move and failed to extend its gains. Yesterday's bullishness supports our negative expectations, whereas trading below 1.3550 strengthens the bearish possibility and won't change the possible move unless the pair breaches 1.3625 levels.

Breaking 38.2% correction on graph might extend the downside move and trigger another bearish wave, as RSI 14 and MACD are trading negatively also.

Support: 1.3520, 1.3500, 1.3455, 1.3400, 1.3365
Resistance: 1.3555, 1.3590, 1.3625, 1.3665, 1.3700

Recommendation Based on the above, sell the pair below 1.3540 targeting 1.3500, 1.3475 then 1.3400 and stop-loss above 1.3625