Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pair continues to benefit from the support of the 50-period Simple Moving Average (SMA), which reinforces short-term bullish momentum. This is further supported by a notable improvement in momentum indicators, with the Relative Strength Index (RSI) generating constructive signals that favor the continuation of the uptrend in the near term.
Probable Scenario – Bullish Bias:
As long as the pair remains stable above the psychological support at 1.3700, the bullish trend is likely to extend in the coming hours. The first upside target is set at 1.3740, with the potential for further gains toward 1.3770.
However, it’s important to note that the bullish scenario remains valid only if the pair holds above 1.3660. A break below this level could shift the outlook, potentially leading to renewed bearish pressure targeting 1.3610.
Market Catalyst:
Traders should remain cautious as the U.S. is scheduled to release high-impact inflation data today, including annual and monthly Core Consumer Price Index (CPI) figures. These releases may trigger significant market volatility.
Caution:
Risk levels are elevated amid persistent trade and geopolitical tensions. All scenarios remain possible, and proper risk management is essential.
Risk Disclaimer: Amid global economic uncertainties and trade tensions, risk levels remain high. Traders should proceed with caution and be prepared for a range of market scenarios.
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