In this trading session, the Euro has made substantial gains, and at this point, it is probable that we will encounter strong resistance above owing to the fact that we fell in the first place. As a result of this, we are a little oversold and the rebound makes sense. So, the market is likely to experience more declines over time, but we may need to go a bit farther before becoming short.
The support rests at 1.15880 with resistance at 1.16080 which the price is moving below the Pivot Point at 1.16010 located between the lines. The EMA of 10 is moving in bearish bias in descendant channel below EMA of 100 and the EMA of 200. The RSI is moving below the level of 50, the MACD histogram is in positive territory showing a buy signal and the Stochastic is moving in low ranges and created a crossover buy signal. The ADX is showing upward momentum.

• There is resistance at 1.16080, followed by resistance at 1.16210 and 1.16280.
• There is support at 1.15880 Below, there is 1.15810 and 1.1568.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.