Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The technical outlook is unchanged and the pair’s movements did not change much, maintaining stability above the 1.2500 support level.
Technically, we tend to be positive, relying on stability above the psychological support floor of 1.2500, accompanied by the RSI’s attempts to obtain bullish momentum, coinciding with the positive motive of the 50-day moving average.
Therefore, we are targeting 1.2600/1.2610, a first target, knowing that breaching the mentioned level is a catalyst that enhances the possibility of touching 1.2645 a second target.
To remind that activating the buying positions depends on the stability of daily trading above 1.2500/1.2490, and breaking it is capable of thwarting the attempts to rise and putting the price under negative pressure, with the target of 1.2410, 61.80% correction before rising again.
| S1: 1.2490 | R1: 1.2600 |
| S2: 1.2430 | R2: 1.2645 |
| S3: 1.2380 | R3: 1.2700 |
