Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The euro managed to touch the first bearish target published in the previous analysis at 1.1800 to record its lowest level at 1.1802.
Today, the technicals indicate the possibility of resuming the decline due to the continuation of the negative pressure coming from the 50-day moving average and the stability of daily trading below the strong resistance level 1.1880, 61.80% Fibonacci.
Therefore, the bearish tendency is likely today upon confirmation of breaking the psychological barrier of 1.1800 to visit 1.1770/1.1765. The last break extends the losses of the pair so that we are waiting for 1.1720.
Rising to 1.1880/1.1885 will cancel the bearish scenario mentioned above, and the euro will recover, targeting 1.1975.
| S1: 1.1765 | R1: 1.1880 |
| S2: 1.1720 | R2: 1.1920 |
| S3: 1.1670 | R3: 1.1975 |
