Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pair maintains its expected downward trajectory, having repeatedly failed to break the 1.1760 resistance level over several consecutive sessions.
Technical Picture:
- 50-Day Simple Moving Average (SMA): The pair continues to trade below this level, which acts as dynamic resistance, limiting any further upside attempts.
- Relative Strength Index (RSI): Recently entered the overbought zone relative to the price action, suggesting the potential for negative divergence and renewed downside pressure.
- Trend Structure: Price action remains confined within a descending trend line, confirming the continued dominance of the bearish bias.
Probable Scenario:
- Bearish Case (preferred): Stability below 1.1760 maintains the negative outlook. A confirmed break below 1.1690 may open the way toward 1.1645, followed by 1.1605 as the next support levels.
- Bullish Case (alternative): A break above 1.1765 and sustained trading above it could revive recovery attempts toward 1.1800, with potential extensions to 1.1835.
Warning: The risk level remains high amid ongoing trade and geopolitical tensions, and all scenarios remain possible.
Risk Disclaimer: Trading CFDs involves risks, and therefore the scenarios outlined above are not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 1.1700 | R1: 1.1755 |
| S2: 1.1675 | R2: 1.1785 |
| S3: 1.1645 | R3: 1.1810 |
