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The pair remains in an upward trend, attempting to consolidate above the 1.3900 level while maintaining a positive technical structure.
Technical Outlook:
- RSI: Sending early positive signals, supporting short-term bullish momentum.
- 50-period SMA: Prices remain above it, reinforcing the upside bias.
Probable Scenario:
- Bullish Case: As long as trading holds above 1.3880, upside potential remains in place. A break above 1.3950 would confirm bullish momentum and pave the way toward 1.3970.
- Bearish Case: A downside break of 1.3880 could place the pair under renewed pressure, targeting 1.3850 and then 1.3810.
Risk Warning: High volatility is expected with today’s release of US ADP Nonfarm Employment Change and ISM Manufacturing PMI data. Geopolitical and trade-related risks remain elevated, and all scenarios are possible.
Trading in CFDs involves risks, and therefore all scenarios are subject to potential outcomes. The analysis provided above is not a recommendation to buy or sell but rather an illustrative reading of price action on the chart.
| S1: 1.3895 | R1: 1.3940 |
| S2: 1.3850 | R2: 1.3970 |
| S3: 1.3810 | R3: 1.4000 |
