Euro Looking For New Signals

The Euro started the current session with a slight bullish bias, as part of attempts to establish a support floor near the psychological barrier of 1.1800.

Technically, looking at the 240-minute chart, we find that the 50-day moving average has returned to hold the price, with stability above the mentioned support level, and on the other hand, we find negative signs clearer on stochastic.

With technical signals contradicting one another, we stand on the fence until we get more accurate signals towards one of the following scenarios:

To resume the bearish trend, we need to witness a clear and strong break with stability below 1.1800 and the most important 1.1785, and from here pave the way towards 1.1720 Fibonacci retracements of 23.60% as an initial target.

Activating long positions today depends on surpassing the upside resistance level of 1.1855 / 1.1860, which is a catalyst that enhances the bullish chances with the aim of re-testing 1.1900 and 1.1945 thereafter, respectively.

S1: 1.1765	R1: 1.1850
S2: 1.1720	R2: 1.1900
S3: 1.1675	R3: 1.1945