Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The negative moves continue to dominate the euro’s trading against the US dollar, surpassing the first target required to be achieved yesterday, located at 1.2330, to hit its highest level during the previous session at 1.2350.
From the angle of technical analysis today, we find that the RSI indicator is still moving above the middle 50 line, and we find the 50-day moving average that continues to hold the price from below.
From here, with intraday trading above the psychological barrier level of 1.2300 and the most important 1.2280, the bullish scenario remains valid and effective, targeting 1.2360 / 1.2365 as a first target, knowing that the breach of the aforementioned level could push the pair to continue rising towards the third leg of 1.2400.
A reminder that confirming the breach of the 1.2280 support floor will temporarily halt the bullish scenario and force the pair to retest 1.2230 / 1.2210 before attempting to rise again.
| S1: 1.2280 | R1: 1.2365 |
| S2: 1.2230 | R2: 1.2400 |
| S3: 1.2190 | R3: 1.2450 |
