Technical Analysis for EURO
The pair moved to the upside to trade above 1.3440 levels weakening the AB=CD bearish harmonic pattern. Meanwhile, we couldn’t prove that the pattern’s affect is over, whereas the pair is stable below 23.6% correction of the CD Leg at 1.3545 levels and Linear Regression Indicators are still negative. Therefore, we prefer to be neutral today waiting for more confirmations.
The trading range for today is among the key support at 1.3355 and key resistance at 1.3545.
The general trend over short term basis is negative targeting 1.4375 as far as areas of 1.2990 remains intact.
Support: 1.3440, 1.3405, 1.3355, 1.3310, 1.3270
Resistance: 1.3485, 1.3500, 1.3545, 1.3580, 1.3600
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move