Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The EUR/USD pair continues its gradual upward attempts, reaching a high of 1.1770 during the previous session.
Technical Outlook – 4-Hour Timeframe:
The pair has formed solid support near the psychological level of 1.1700, supported by price stability above the simple moving averages, which are acting as dynamic support, alongside trading within an ascending trendline. However, the Relative Strength Index (RSI) has started to lose upward momentum, which may limit the continuation of gains in the near term.
Most Likely Technical Scenario:
Given the mixed technical signals, price action remains key. A confirmed break above the 1.1780 resistance level could pave the way for further gains towards 1.1820, followed by 1.1855. Conversely, a confirmed break below the 1.1700 support level could place the pair under negative pressure, targeting 1.1675 initially and then 1.1640.
Warning: Today we are awaiting high-impact U.S. economic data, including non-farm payrolls, average hourly earnings, the unemployment rate, and the preliminary manufacturing and services Purchasing Managers’ Index readings. Heightened price volatility is expected around the time of release.
Risk Disclaimer: Trading CFDs involves risks, and therefore the scenarios outlined above are not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 1.1705 | R1: 1.1780 |
| S2: 1.1675 | R2: 1.1820 |
| S3: 1.1640 | R3: 1.1855 |
