Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pair extended its upward movement, testing the pivotal resistance at 1.3950, which successfully limited further gains.
Technical Outlook:
- Relative Strength Index (RSI): Attempting to send short-term positive signals, hinting at a possible continuation of bullish momentum.
- 50-day Simple Moving Average (SMA): Prices remain supported above this level, reinforcing the broader uptrend.
Probable Scenario:
- Bullish Case: Holding above 1.3880 keeps the focus on the upside. A confirmed breakout above 1.3950 could open the way toward 1.3970, with potential extension to the psychological level at 1.4000.
- Bearish Case: A clear downside break of 1.3880 would expose the pair to negative pressure, targeting 1.3850 initially, followed by 1.3810.
Note: Markets are awaiting high-impact US economic data today (Job Openings and Labor Turnover), which may trigger significant volatility.
Risk Warning: Risk remains high amid ongoing trade and geopolitical tensions, 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 |
