Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The euro continues to move within a sideways range with a slight upward bias, though negative pressures remain dominant.
Technical Outlook:
- 50-day Simple Moving Average (SMA): Price action remains capped below this level, reducing the probability of sustained upside movement.
- Relative Strength Index (RSI): Recently entered overbought territory, signaling weak momentum and the potential for renewed bearish pressure.
- Trendline: Ongoing movement along a descending trend line reinforces the negative technical outlook.
Probable Scenario:
- Bearish Case: Stability below 1.1750 maintains the downside bias. A confirmed break of 1.1690 could accelerate losses towards 1.1665 and then 1.1640.
- Bullish Case: A breakout above 1.1750 and sustained consolidation above this level may shift momentum, targeting 1.1780, with potential to extend gains towards 1.1820.
Note: Markets await high-impact US economic data today (Job Openings and Labor Turnover), which could fuel strong volatility.
Risk Warning: The risk level remains elevated amid ongoing trade and geopolitical tensions, and all scenarios are possible.
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: 1.1695 | R1: 1.1750 |
| S2: 1.1665 | R2: 1.1780 |
| S3: 1.1615 | R3: 1.1820 |
