Technical Analysis for EURO
The pair dropped sharply yesterday and is currently trading close to 50% correction shown on graph, whereas this correction residing at 1.3105 levels represent an intraday interval with a possibility of extending bearishness. The bearish possibility is still valid but the pair has to stabilize intraday below 1.3185, whereas the current bearish correction isn’t over yet and there aren’t enough positive signals indicating the end of the correction.
The trading range for today is among the key support at 1.3020 and key resistance at 1.3230.
The general trend over short term basis is sideways targeting 1.2775 as far as 1.3600 is daily-closing.
Support: 1.3105, 1.3085, 1.3060, 1.3020, 1.2995
Resistance: 1.3135, 1.3165, 1.3185, 1.3205, 1.3230
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 1.3135 targeting 1.3085, 1.3060 then 1.3020 and stop-loss with four-hour closing above 1.3185