Technical Analysis for EURO
The pair yesterday moved closer to 78.6% correction of CD Leg of the AB=CD bullish harmonic Pattern, then rebounded to the upside and is trading close to the upside momentum of the ascending channel as shown on the graph. The negative catalysts are still valid, as stability below 1.3275 levels is a reason for the bearish attempts to extend to achieve more targets of the technical harmonic pattern.
The trading range for today is among the key support at 1.3080 and key resistance at 1.3355.
The general trend over short term basis is to the upside targeting 1.4375 as far as areas of 1.2990 remains intact.
Support: 1.3205, 1.3170, 1.3150, 1.3150, 1.3100
Resistance: 1.3235, 1.3270, 1.3310, 1.3355, 1.3385
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 1.3235 targeting 1.3205, 1.3150 then 1.3080 and stop-loss with four-hour closing above 1.3310 might be appropriate