Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pair began the week on a bullish note, successfully breaking through the strong resistance level of 1.0450, as highlighted in the previous report. This breakout served as a catalyst for further upside potential, driving the price to a high of 1.0505, with the next target at 1.0540.
From a technical perspective, the 4-hour chart shows that the simple moving averages have resumed supporting the price from below. Additionally, the pair is currently holding above the breached resistance at 1.0450, which aligns with the 23.60% Fibonacci retracement level.
As a result, an upward trend remains likely during today’s session, provided that the psychological resistance at 1.0500 is decisively broken. Such a move could reinforce bullish momentum toward 1.0540. However, due to the heightened risk around these levels, we remain cautious beyond this target.
On the downside, a return to stability below 1.0450 could revive the bearish outlook, paving the way for declines toward 1.0395 and further to 1.0305 as the next key support levels.
Risk Warning: Market volatility remains high amid ongoing trade tensions, and multiple scenarios are possible.
⚠ Risk Warning: The market remains highly volatile, and all scenarios should be considered.
| S1: |