Technical Analysis for EURO
The pair slightly dropped after the sharp movements to the upside last week, reducing the overbought signals shown on momentum indicators. Despite that, the pair is trading above Linear Regression Indicator 34 and 55, also above a previous top at 1.3485 levels. Therefore, any trading above the referred to levels forces the overall upside move to extend.
The trading range for this week is among the key support at 1.3405 and key resistance at 1.3990.
The general trend over short term basis is to the upside targeting 1.3990 as far as areas of 1.3550 remains intact.
Support: 1.3620, 1.3600, 1.3570, 1.3525, 1.3485
Resistance: 1.3655, 1.3690, 1.3715, 1.3780, 1.3815
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.3570 targeting 1.3620, 1.3695 then 1.3815 and stop-loss with four-hour closing below 1.3485 might be appropriate this week