Technical Analysis for EURO
The pair stabled above 1.3040 indicating that there might be another bullish wave. As shown on graph, the pair is benefiting from breaching key resistance level of the descending channel, as we see it stable above23.6% at 1.2970. Therefore, trading above 1.2970 levels triggers more bullishness.
The trading range for today is among the key support at 1.2940 and key resistance at 1.3170.
The general trend over short term basis is to the downside targeting 1.2560 as far as areas of 1.3270 remains intact.
Support: 1.3020, 1.2970, 1.2940, 1.2905, 1.2880
Resistance: 1.3085, 1.3115, 1.3155, 1.3170, 1.3205
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.3020 targeting 1.3080, 1.3115 then 1.3155 and stop-loss with four-hour closing below 1.2970 might be appropriate