Technical Analysis for EURO

Technical Analysis for EURO

The pair moved to the upside and stabled above 1.3080 levels but failed to breach key resistance level of the downside move while Stochastic is showing a negative cross in overbought areas. We can see that Linear Regression Indicators are positive, and for the bearish move to return the pair should stable below 1.3080 levels followed by breaking 1.3030 levels. As for the possibility of an upside move, it will be related with breaching 1.3150 levels. Therefore, we prefer to remain neutral in our report waiting for intraday confirmation signals during the European session.

The trading range for today is among the key support at 1.2905 and key resistance at 1.3200.

The general trend over short term basis is to the upside targeting 1.4375 as far as areas of 1.2990 remains intact.

Support: 1.3080, 1.3030, 1.3000, 1.2980, 1.2965
Resistance: 1.3100, 1.3155, 1.3170, 1.3200, 1.3235

Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move