Noor Trends News, Technical Analysis, Educational Tools and Recommendations
EUR/USD Technical Analysis
The EUR/USD pair preserved its upward trajectory as projected in our previous report, drawing benefit from its successful consolidation at the pivotal 1.1575 support — a development that has contributed to sustaining positive momentum and underpinning the gradual upside attempts.
Technical Outlook – 4-Hour Timeframe:
Across intraday price action, the Relative Strength Index (RSI) has started to broadcast positive signals, mirroring the relative improvement in bullish momentum — a configuration that lends weight to the probability of extended gains across the upcoming period.
The pair has likewise successfully breached a key descending trendline — a constructive technical signal that could bolster the prospects of an extension of the uptrend and pave the way toward higher levels across the upcoming sessions.
Meanwhile, the price remains anchored above the 50-period simple moving average, which continues to provide dynamic support. The double-bottom pattern further reinforces the constructive outlook and validates the potential for an extension of the upward trend.
Taken as a whole, the technical picture remains constructive as long as trading holds above the key support floors.
Expected Scenarios:
Bullish (Most Likely) Scenario:
As long as trading remains anchored above the 1.1560 support floor, the prospects of a resumption of the uptrend will remain firmly on the table — particularly should the price confirm a decisive break above 1.1630 and sustain trading above it — with targets set at:
- 1.1670 as the initial objective
- Followed by 1.1700 as the subsequent target
Bearish Scenario:
Conversely, a confirmed hourly candle close beneath 1.1560 would expose the pair to renewed negative pressure, with:
- 1.1500 emerging as the initial downside target
Key Economic Events to Watch:
Markets are bracing for a slate of pivotal US economic releases and events today, including:
United States:
- Federal Reserve Interest Rate Decision
- FOMC Statement
- Fed Economic Projections
- Federal Reserve Chair’s Press Conference
Accordingly, markets are likely to experience elevated volatility and sharp price swings around the release of these data points — a backdrop that could fuel accelerated technical moves in both directions.
- 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: 1.1575 | R1: 1.1630 |
| S2: 1.1540 | R2: 1.1670 |
| S3: 1.1500 | R3: 1.1705 |
