Technical Analysis for EURO

Technical Analysis for EURO

EURUSD managed to hold above 23.6% correction shown on graph at 1.3290 which is considered positive and supports the extension of bullishness. The pair maintained stability above Linear Regression Indicator 55 around 1.3315 but we will depend on stability above 1.3290 for the suggested upside move.

The trading range for today is among the key support at 1.3230 and key resistance at 1.3440.

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

Support: 1.3290, 1.3250, 1.3230, 1.3205, 1.3185
Resistance: 1.3315, 1.3345, 1.3385, 1.3400, 1.3440

Recommendation Based on the above, buy the pair above 1.3300 targeting 1.3345, 1.3385 then 1.3440 and stop loss at four-hour closing below 1.3250