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Mixed trading is dominating the EUR/USD pair, which maintains a gradual and quiet upward movement, hovering near the psychological barrier of 1.1800.
Technical Outlook – 4-Hour Timeframe:
In the short term, the pair is holding above the 50-day simple moving average, reinforcing the corrective uptrend. The Relative Strength Index (RSI) has begun to emit positive signals after reaching oversold territory, supported by the formation of a positive divergence.
As long as the price remains above the 1.1750 support level, the bullish bias remains favored. A break above 1.1800 would act as a catalyst, increasing the likelihood of a move toward 1.1825 as an initial target, potentially extending to 1.1850.
Conversely, a close below the 1.1750 support level could renew selling pressure, with an initial target of 1.1690.
Risk Disclaimer: Trading CFDs involves risks, and therefore the scenarios outlined above are not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 1.1760 | R1: 1.1815 |
| S2: 1.1725 | R2: 1.1850 |
| S3: 1.1690 | R3: 1.1875 |
