Noor Trends News, Technical Analysis, Educational Tools and Recommendations
EUR/USD Technical Analysis
The EUR/USD pair continues to drift higher within the projected positive trajectory, though the gains remain contained as the price has yet to clear the pivotal resistance at 1.1680.
Technical Outlook – 4-Hour Timeframe:
The pair is navigating within an ascending price channel, which underpins the short-term constructive trend. That said, the price’s inability to establish a decisive foothold above 1.1680 has triggered some limited selling pressure within a natural corrective move — one aimed at rebuilding the bullish momentum required to extend the advance.
On the constructive side, the simple moving averages — particularly the 50-period moving average — continue to provide dynamic support beneath the price, which strengthens the prospects of a resumption of the uptrend as long as trading remains anchored above the key support floors.
Momentum indicators are likewise holding within positive territory, indicating that the current pullbacks remain confined within a limited corrective framework — particularly given the absence of any technical signals confirming a directional shift to the downside.
Expected Scenarios:
Bullish (Most Likely) Scenario:
Sustained trading above the 1.1620 support floor preserves the prospects of a resumption of the uptrend — particularly should the price successfully breach the 1.1680 resistance and hold above it — with targets set at:
- 1.1715 as the initial objective
- Followed by 1.1740 as the subsequent target
Bearish Scenario:
Conversely, a confirmed hourly candle close beneath the 1.1620 support would propel the pair into a deeper corrective pullback, targeting:
- 1.1575 as the initial objective
- Followed by 1.1545 as the subsequent target
- 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: 1.1610 | R1: 1.1665 |
| S2: 1.1575 | R2: 1.1700 |
| S3: 1.1545 | R3: 1.1745 |
