Technical Analysis for EURO
Yesterday's trading was very troubled and limited between 1.3406 and 1.3257 levels. The pair is trading below Linear Regression Indicators 34 and 55 in a negative bias. Therefore, we suggest a downside movement for today , but breaching 1.3406 levels will thwart this outlook because an upside wave will be formed.
The trading range for today is among the key support at 1.3200 and key resistance at 1.3505.
The general trend over short term basis is negative targeting 1.1865 as far as areas of 1.3550 remains intact.
Support: 1.3300, 1.3280, 1.3250, 1.3235, 1.3200
Resistance: 1.3355, 1.3380, 1.3405, 1.3480, 1.3505
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 1.3330 targeting 1.3280, 1.3250 then 1.3200 and stop-loss with four-hour closing above 1.3405 might be appropriate