Technical Analysis for EURO

Technical Analysis for EURO

The pair moved to the upside trading above 88.6% correction of the suggested CD Leg of the bearish harmonic Bat Pattern that isn’t confirmed yet. Stability above the referred to level at 1.3775 weakens the harmonic formation without cancelling till now. In fact, the pair has to trade again below 1.3775 to prove the negative harmonic formation again; as we prefer to remain intraday neutral in the European session report since the pair is currently above the referred to level.

Support: 1.3775, 1.3745, 1.3705, 1.3660, 1.3600
Resistance: 1.3800, 1.3835, 1.3885, 1.3910, 1.3950

Recommendation Based on the above, we prefer to remain neutral in our European session report