Overview:
- The EUR/USD pair faced strong support at the levels of 1.1282 and 1.1239. So, the strong support is seen at the level of 1.1239, and the pair is likely to try to approach it in order to test it again. However, if the pair fails to pass through the level of 1.1282, the market will indicate a bullish opportunity above the new strong support level of 1.1282 (the level of 1.1282 coincides with the daily support 1). Moreover, the RSI starts signaling an upward trend, as the trend is still showing strength above the moving average (100). Thus, the market is indicating a bullish opportunity above 1.1239 so it will be good to buy at 1.1239 with the first target of 1.1354. It will also call for an uptrend in order to continue towards 1.1425. The daily strong resistance is seen at the levels of 1.1425 and 1.1446. However, the stop loss should always be taken into account, hence it will be reasonable to set your stop loss at the level of 1.1200.
Intraday technical levels:
- R3: 1.1611
- R2: 1.1540
- R1: 1.1425
- PP: 1.1354
- S1: 1.1239
- S2: 1.1168
- S3: 1.1053
