Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trading dominated the euro’s movements against the dollar within the expected bullish path, to touch the second target to be achieved in yesterday’s session at 1.1920, posting a high at 1.1920.
Technically, looking at the 60-minute chart, we find that the SMA 50 started to pressure the price from the top with gradually losing the bullish momentum.
From here, we think that the trading prospects are negative in coming hours, targeting a re-test of 1.1780 / 1.1765 before attempting to rise again.
Note: the slight bearish tendency does not contradict the daily bullish trend, its positive targets are confirmed once the resistance level of 1.1920 is breached to pave the way towards 1.1975, and targets may extend later towards 1.2020
| S1: 1.1780 | R1: 1.1910 |
| S2: 1.1725 | R2: 1.1975 |
| S3: 1.1665 | R3: 1.2030 |
