Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pair started its first weekly trading with a bearish bias, after it faced a strong resistance level near 140.470, to witness the current moves of the pair stabilizing below 140.00 again.
Technically, trading remained below the mentioned level accompanied by negative pressure coming from the simple moving averages.
Therefore, we may witness a bearish bias during the coming hours, targeting 139.10 / 139.00 as first targets then 138.70, bearing in mind that trading below the last accelerates and confirms the strength of the downside towards the target of 138.00. Activation of the suggested scenario depends on trading remaining below 140.50.
| S1: 139.10 | R1: 140.45 |
| S2: 138.70 | R2: 141.20 |
| S3: 138.00 | R3: 141.70 |
