Euro is breaking through the resistance 25/4/2023

We adhered to intraday neutrality during the previous analysis due to the conflicting technical signals, in addition to confining trading within an occasional path, explaining that stepping up to the resistance level of the psychological barrier 1.1000 leads the euro to visit 1.1060, to activate the pending buy order scenario, heading to visit the required target, recording its highest level during the early trading of the current session 1.1071.

Technically, today, with the intraday stability above 1.1000 resistance, accompanied by the return of the simple moving averages to hold the price from below, to support the return of the bullish daily trend and the clear positive signs on the 14-day momentum indicator.

Therefore, the possibility of a bullish bias during today’s session exists, continuing towards the second target of the previous report 1.1090, and then 1.1135, the next waiting station, whose bullish targets may extend later towards 1.1180.

The decline below 1.1000, and most importantly 1.0980, can completely fail the suggested scenario and put the pair under negative pressure, aiming to retest 1.0930.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 1.0980	R1: 1.1090
S2: 1.0925	R2: 1.1135
S3: 1.0870	R3: 1.1195