The Euro is Hovering Around The Resistance And May Face a Negative Trend

Quiet sideways trading tends to be positive, which dominated the euro against the US dollar, within a gradual upward bias that aimed to retest the strong resistance level at 1.1770.

Technically, the current movements of the euro are witnessing stability below 1.1770/1.1780, and with careful consideration of the chart, we find that the negativity is still dominating the stochastic indicator.

Therefore, we will maintain our negative outlook, knowing that trading and price stability below the 1.1740 level facilitates the task required to visit 1.1700 first target, knowing that breaking the last level puts the price under negative pressure to be waiting for 1.1665 next official stop.

The breach of 1.1800 could motivate for a more rise towards 1.1880 Fibo 61.80%.

S1: 1.1700	R1: 1.1780
S2: 1.1665	R2: 1.1820
S3: 1.1610	R3: 1.1880