Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The EUR/USD pair maintained its upward trajectory within the anticipated positive outlook highlighted in the previous technical report, reaching the first target of 1.0600 and recording a high of 1.0597.
Technically, today’s analysis of the 4-hour chart shows the 50-day simple moving average supporting the bullish movement, alongside positive momentum signals from the Stochastic indicator, which could further boost the pair’s upward path.
As long as daily trading remains above 1.0500, the upward trend is likely to persist. Breaching 1.0600 would ease the path to the next target of 1.0635, corresponding to the 50.0% Fibonacci correction, with potential for gains to extend toward 1.0665.
A break below 1.0500 would invalidate this scenario, resuming the main downward trend and opening the door for a drop to 1.0465, with further declines possible toward 1.0400.
Warning: The risk level remains high amidst ongoing geopolitical tensions, and all scenarios are plausible.
Risk Alert: Market conditions remain highly uncertain due to ongoing geopolitical tensions, and multiple outcomes are possible.
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