Technical Analysis for EURO

Technical Analysis for EURO

The pair is trading weakly within a tight range and is still limited below 38.2% correction at 1.3185 levels as shown on graph. Stability below the referred to level keeps our negative expectations, where we think the pair will extend the downside move to test 50% and perhaps 61.8% corrections at 1.3105 and 1.3020 consecutively. Stochastic is above line 50 but is showing the weakness of the upside move, as Linear Regression Indicators are still negative.

The trading range for today is among the key support at 1.3020 and key resistance at 1.3290.

The general trend over short term basis is sideways targeting 1.2775 as far as 1.3600 is daily-closing.

Support: 1.3150, 1.3135, 1.3105, 1.3085, 1.3020
Resistance: 1.3185, 1.3205, 1.3230, 1.3250, 1.3285

Recommendation Based on the charts and explanations above, our opinion is selling the pair around 1.3185 targeting 1.3135, 1.3105 then 1.3085 and stop-loss with four-hour closing above 1.3230