Technical Analysis for EURO
The pair dropped yesterday and remained limited above 23.6% correction at 1.3620 levels as showing on graph. Stability above the referred to level strengthens the bullish possibility in an attempt to test the previously broken support level that turned to resistance as showing on graph.
Linear Regression Indicators are positive and RSI is trading above line 50 supporting the expectations. Stochastic is showing a negative bias from overbought signals, as the pair should breach 1.3685 to cancel any possibility of responding to the negative signals on momentum indicators.
Support: 1.3620, 1.3590, 1.3555, 1.3530, 1.3500
Resistance: 1.3685, 1.3700, 1.3715, 1.3745, 1.3775
Recommendation Based on the above, buy the pair above 1.3630 targeting 1.3700, 1.3745 then 1.3775 and stop-loss below 1.3590