Technical Analysis for EURO

Technical Analysis for EURO

The pair's attempt to the upside yesterday remained limited below 1.3230 levels then stabilized again below 38.2% correction at 1.3185 as shown on graph. Stochastic is showing negativity again giving the possibility of a downside move today. Of note, trading stably below 1.3150 is important to strengthen the downside move.

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 below 1.3185 targeting 1.3135, 1.3105 then 1.3085 and stop-loss with four-hour closing above 1.3230