Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The single European currency benefited from the support level published in the previous analysis at 1.1665, explaining that breaking this level is a condition to continue resuming the rise and forced the pair to rebound the limited upside to retest 1.1700.
On the technical side today, despite the current bullish bias, trading is still stable for an intraday basis below the resistance level of 1.1720/1.1740, and we also find the simple moving averages continuing their negative pressure on the price from above.
Therefore, we tend in our trading to the negative, provided that we confirm the break of 1.1665 to facilitate the task required to visit the official station 1.1600. In general, we continue to suggest the bearish trend as long as trading is stable below 1.1760. Note: Stochastic is trying to provide positive signals at short time intervals.
| S1: 1.3565 | R1: 1.3720 |
| S2: 1.3505 | R2: 1.3820 |
| S3: 1.3410 | R3: 1.3875 |
