{"id":38385,"date":"2020-12-10T10:33:44","date_gmt":"2020-12-10T06:33:44","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=38385"},"modified":"2020-12-10T10:33:46","modified_gmt":"2020-12-10T06:33:46","slug":"euro-facing-negative-pressure-eyes-on-ecb","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/euro-facing-negative-pressure-eyes-on-ecb\/12\/10\/tech-analysis\/","title":{"rendered":"Euro Facing Negative Pressure, Eyes on ECB"},"content":{"rendered":"\n<p>We stayed on the fence during the previous report due to the conflicting technical signals.<\/p>\n\n\n\n<p>On the technical side, by looking at the 240-minute chart, we find the stochastic indicator providing negative crossover signals.<\/p>\n\n\n\n<p>From here, with intraday trading below 1.2145 and in general, below the 1.2170 resistance level, the bearish scenario remains valid and effective targeting 1.2055 the first target, and then 1.2010.<\/p>\n\n\n\n<p>The activation of the suggested scenario depends on trading remaining below 1.2170, and breaching it will immediately stop the attempts to decline and the pair will recover again, so we will be waiting for 1.2240.<\/p>\n\n\n\n<p>Note: \u201cEuropean Central Bank press conference and European Central Bank monetary policy statement\u201d are due today and we may witness high volatility on the euro\u2019s movement against the US dollar.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>S1:\u00a0<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>1.2055\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/td><td><strong>R1: <strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>1.2145\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/td><\/tr><tr><td><strong>S2:<\/strong>\u00a0<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>1.2010\u00a0\u00a0\u00a0\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/td><td><strong>R2:<\/strong>\u00a0<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>1.2190\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/td><\/tr><tr><td><strong>S3:\u00a0<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>1.1965\u00a0\u00a0\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/td><td><strong>R3: <strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>1.2235 \u00a0\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>We stayed on the fence during the previous report due to the conflicting technical signals. On the technical side, by looking at the 240-minute chart, we find the stochastic indicator providing negative crossover signals. From here, with intraday trading below 1.2145 and in general, below the 1.2170 resistance level, the bearish scenario remains valid and &hellip;<\/p>\n","protected":false},"author":9,"featured_media":38393,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[42,41],"tags":[7222,6877,6872,6928],"class_list":["post-38385","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-tech-analysis","category-tech-analysis","tag-analysis","tag-dollar","tag-eur","tag-euro"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/38385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=38385"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/38385\/revisions"}],"predecessor-version":[{"id":38394,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/38385\/revisions\/38394"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/38393"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=38385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=38385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=38385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}