Technical Analysis for EURO
The pair dropped yesterday after failing o stabilize above 1.3155 levels. We are still relying on stability below the referred to level to prefer extending the downside move, whereas stability below it makes us think that the bearish harmonic pattern will achieve more targets. Breaking 1.3000 levels represented in bottom C is required to push the pair further to the downside.
The trading range for today is among the key support at 1.2905 and key resistance at 1.3155.
The general trend over short term basis is to the upside targeting 1.4375 as far as areas of 1.2990 remains intact.
Support: 1.3030, 1.3000, 1.2980, 1.2965, 1.2905
Resistance: 1.3080, 1.3100, 1.3155, 1.3170, 1.3205
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 1.3080 targeting 1.3030, 1.3000 then 1.2905 and stop-loss with four-hour closing above 1.3155 might be appropriate