Technical Analysis for EURO

Technical Analysis for EURO

The pair is proving its ability to consolidate above the bullish key support level once again and stabilized above 1.2975 during its downside attempts yesterday, keeping the possibility of an upside move. Today, the pair might move to the upside if it stabilized above the referred to support level 1.2975.

The trading range for today is among the key support at 1.2975 and key resistance at 1.3270.

The general trend over short term basis is to the downside targeting 1.2675 as far as areas of 1.3170 remains intact.

Support: 1.3070, 1.3030, 1.2995, 1.2975, 1.2945
Resistance: 1.3115, 1.3150, 1.3170, 1.3230, 1.3270

Recommendation Based on the charts and explanations above, our opinion is buying the pair around 1.3070 targeting 1.3170, 1.3230 then 1.3270 and stop-loss with four-hour closing below 1.2975 might be appropriate