Technical Analysis for EURO
The pair managed to stable below 1.3000 levels which is negative and could push the pair to the downside towards the extended targets of the AB=CD bearish harmonic Pattern. The descending channel shown on the graph also supports extending negativity to test 1.2905 levels and perhaps towards 1.2805 levels. Stability below 1.3080 levels is an initial catalyst to maintain these expectations.
The trading range for today is among the key support at 1.2805 and key resistance at 1.3080.
The general trend over short term basis is to the upside targeting 1.4375 as far as areas of 1.2990 remains intact.
Support: 1.2940, 1.2905, 1.2880, 1.2835, 1.2805
Resistance: 1.2880, 1.3000, 1.3035, 1.3080, 1.3100
Recommendation Based on the charts and explanations above, our opinion is selling the pair around 1.2980 targeting 1.2905, 1.2880 then 1.2805 and stop-loss with four-hour closing above 1.3035 might be appropriate