Euro Touching Targets And Technicals Are Contradictory

The euro succeeded in achieving the second official target to be achieved and mentioned in the previous analysis, located at 1.1875, to hit its highest level during the previous trading session at 1.1877.

On the technical side today, and with a closer look at the short time frames, we find the RSI and the 50-day moving average providing technical factors that support the continuation of the upside, and by looking at the 240-minute chart, we find negative signs appearing on the stochastic indicator.

We prefer to remain neutral until a more accurate signal is obtained in order to obtain high-quality deals and to maintain the profitability rates that have been achieved so that we will wait for one of the following scenarios:

For the continuation of the bullish trend, we need to witness intraday stability and stability above 1.1820 and the most important 1.1800. We also need to witness a clear and strong breach of the 1.1885 resistance level, Fibonacci retracement of 61.80%, to enhance the chances of continuing the upward path with targets starting at 1.1940 and then 1.1975 a 50.0% correction.

Activation of short positions will confirm the break of 1.1800, which puts the price under strong negative pressure targeting 1.1765 and then 1.1740, respectively.

S1: 1.1810	R1: 1.1900
S2: 1.1765	R2: 1.1930
S3: 1.1735	R3: 1.1980