Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The euro made a notable intraday rally against the US dollar in the previous trading session, reaching a peak of 1.0924.
From a technical standpoint, the 4-hour chart shows a bullish signal supported by the 50-period simple moving average, which is acting as a positive catalyst. This comes as the pair attempts to counteract bearish momentum indicated by the stochastic oscillator.
As long as intraday trading remains stable above 1.0840—and more broadly, above 1.0820—further upside potential is likely. The next target zone lies between 1.0950 and 1.0965, with a breakout above this range potentially opening the door to 1.1010.
However, a sustained move back below 1.0820 could reintroduce downside pressure, with the possibility of a retest of the 1.0730 support level.
Caution: High-impact economic data is scheduled for release today from the U.S., including Weekly Unemployment Claims and the ISM Services PMI. These events may trigger increased volatility in the market.
Risk Disclaimer: Market conditions remain uncertain amid ongoing trade tensions, and traders should be prepared for all possible scenarios.
⚠ Risk Warning: The market remains highly volatile, and all scenarios should be considered.
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