Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The technical outlook is unchanged, and the pair’s movements did not change significantly, maintaining the bullish corrective slope within the expected bullish context.
Technically, by looking at charts, we find the pair succeeded in building support at 1.2100/1.2090, accompanied by positive signs from the RSI gaining more bullish momentum.
Therefore, we will maintain our positive outlook towards 1.2175, a first target, then 1.2195, a second target for the bullish correction, knowing that confirming the breach of the target level is a catalyst that enhances the chances of a rise towards 1.2235.
on the downside, the return below 1.2090 postpones the chances of a rise, but does not cancel them, and we may witness a slight bearish slope that aims to retest 1.2060 before rising again.
| S1: 1.2100 | R1: 1.2195 |
| S2: 1.2040 | R2: 1.2235 |
| S3: 1.2000 | R3: 1.2290 |
