Technical Analysis for EURO

Technical Analysis for EURO

The pair dropped yesterday and is trading below Linear Regression Indicator 34. Meanwhile, stability above 1.2970 levels keeps the possibility of positivity again, as trading above 1.2970 triggers a new attempt to the upside supported by breaching key resistance level of the bearish move earlier.

The trading range for today is among the key support at 1.2905 and key resistance at 1.3185.

The general trend over short term basis is to the downside targeting 1.2560 as far as areas of 1.3270 remains intact.

Support: 1.3035, 1.3010, 1.2990, 1.2970, 1.2940
Resistance: 1.3060, 1.3085, 1.3100, 1.3115, 1.3155

Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.3035 targeting 1.3085, 1.3115 then 1.3155 and stop-loss with four-hour closing below 1.2970 might be appropriate