Mixed trades dominated the euro\u2019s movements against the US dollar during the previous trading session, as the euro\u2019s movements witnessed a negative sideways tendency confined from the bottom above 1.2075 and from the top below 1.2175.<\/p>\n\n\n\n
On the technical side today, and by looking at the 4-hour chart, we find the stochastic indicator moving negatively accompanied by the price stability below 1.2175 resistance level Fibonacci correction 23.60%, supporting the continuation of the negativity, and by moving to the 60-minute time frame, we find the RSI indicator is showing positive signs supported by the intraday stability above 1.2100 level.<\/p>\n\n\n\n
With the technical signals contradictory, we will stand on the fence for the moment until the daily trend becomes clearer waiting for one of the following scenarios: To get a bullish daily trend, we need to confirm the breach of 1.2175, which is a catalyst that increases the chances of an upside to visit 1.2200 and then 1.2250.<\/p>\n\n\n\n
The activation of short positions depends on trading stability below 1.2175. We also need to witness a break of 1.2065, a correction of 38.20%, and from here the euro will resume the bearish correction with an initial target of 1.2045 and extend to 1.2000, bearing in mind that the confirmation of a break of 1.2000 forces the pair to enter a strong bearish wave with first target around 1.1975 50.0% retracement.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Mixed trades dominated the euro\u2019s movements against the US dollar during the previous trading session, as the euro\u2019s movements witnessed a negative sideways tendency confined from the bottom above 1.2075 and from the top below 1.2175. On the technical side today, and by looking at the 4-hour chart, we find the stochastic indicator moving negatively …<\/p>\n","protected":false},"author":9,"featured_media":40255,"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-40246","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\/40246","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=40246"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/40246\/revisions"}],"predecessor-version":[{"id":40256,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/40246\/revisions\/40256"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/40255"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=40246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=40246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=40246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}