Noor Trends News, Technical Analysis, Educational Tools and Recommendations
EUR/USD Technical Analysis
The EUR/USD pair extended its downside trajectory in alignment with the bearish projections outlined in our previous technical report, successfully achieving the formal target at 1.1640 and printing a low of 1.1622 at the time of writing.
Technical Outlook – 4-Hour Timeframe:
The simple moving averages continue to weigh on the price, functioning as dynamic resistance barriers that lend support to the continuation of the bearish scenario.
Adding to the negative picture, the Relative Strength Index (RSI) has successfully emerged from short-term oversold territory — a development that could supply the pair with additional room to decline, particularly given the persistent weakness in buying momentum.
Bearish (Most Likely) Scenario:
Trading beneath the 1.1670 resistance ceiling supports the continuation of the downtrend, with 1.1600 set as the initial objective. A decisive break below this level would unlock the path toward further declines targeting:
- 1.1560 as the subsequent objective
Bullish Scenario:
Conversely, a confirmed hourly candle close above 1.1680 would expose the pair to a retest of higher levels, with initial targets emerging at:
- 1.1705
- Followed by 1.1735
- 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: 1.1600 | R1: 1.1670 |
| S2: 1.1555 | R2: 1.1705 |
| S3: 1.1510 | R3: 1.1740 |
