Euro is Testing Support, Looking For Signals

Trading was calm and tended to the negativity within the bearish path after the Euro found a resistance level around the psychological barrier of 1.1300, unable to breach it until now.

Technically, by looking at the 4-hour chart, we notice the return of intraday trading stability above the 50-day moving average, which meets around the price of 1.1260/1.1270 and is trying to push the price to achieve some intraday gains. Still, the stochastic continues to provide negative crossover signals.

Although we tend to be negative, we prefer confirming the break of 1.1260, which facilitates the task required to visit 1.1200 first target, and then 1.1175 next price station.

The decline depends on the stability of daily trading below the vital supply area 1.1330, and most importantly 1.1360, knowing that the breach of the latter delays the chances of a decline, we may witness a retest of 1.1400 initially.

S1: 1.1250	R1: 1.1360
S2: 1.1170	R2: 1.1400
S3: 1.1105	R3: 1.1460