Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The EUR/USD pair began the week on a negative note, failing to maintain its recent gains that propelled it to a high of 1.1480 last Friday, and subsequently falling back under selling pressure.
Technical Outlook – 4-Hour Timeframe:
In the short term, the Relative Strength Index (RSI) continues to send negative signals, reflecting weak upward momentum and supporting the likelihood of continued selling pressure.
Conversely, the pair remains below the 50-period simple moving average (SMA), which continues to act as a strong dynamic resistance level, limiting recovery opportunities and maintaining the downward bias.
Overall, the technical outlook remains negative as long as trading remains below key resistance levels, with the short-term bearish bias remaining intact.
Expected Scenarios:
Negative Scenario (Likely):
Trading below the resistance level of 1.1480, and more importantly below the psychological barrier of 1.1500, keeps the possibility of a resumption of the downward trend alive, especially if the price successfully confirms a break below the support level of 1.1423 and holds below it, targeting:
1.1380 as the first target
1.1350 as the next target
Positive Scenario:
However, if the pair manages to close above the 1.1500 level, at least on an hourly candle, the negative scenario may be temporarily postponed, increasing the chances of retesting:
1.1550 as the first 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: 1.1420 | R1: 1.1480 |
| S2: 1.1380 | R2: 1.1520 |
| S3: 1.1350 | R3: 1.1550 |
