Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The EUR/USD pair opened the week on a strong bullish note, advancing toward the psychological 1.1900 level and extending gains to a session high near 1.1926.
Technical Outlook – 4-Hour Chart
Momentum indicators suggest a short-term pause rather than a reversal. The Relative Strength Index (RSI) is working to ease overbought conditions, which may allow the pair to rebuild momentum and resume its upward move. This outlook is reinforced by price action holding above the simple moving averages, which continue to provide dynamic support, alongside the presence of a bullish chart pattern as illustrated.
Expected Technical Scenario
As long as trading remains above 1.1870 — and more broadly above the 1.1840 support zone — the bullish bias remains the preferred scenario, with 1.1950 standing as the next upside target. A decisive break above this pivotal resistance would likely extend gains toward the 1.2000 psychological level.
On the downside, a confirmed hourly close below 1.1840 would invalidate the bullish setup and could place the pair under renewed pressure, with scope for a pullback toward 1.1765.
Market Note:
High-impact U.S. economic data is due today, including monthly Retail Sales and the Employment Cost Index. Elevated volatility is expected around the 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: 1.1840 | R1: 1.1955 |
| S2: 1.1765 | R2: 1.2000 |
| S3: 1.1720 | R3: 1.2070 |
