Today's Support and Resistance levels:
S1: 1.5278 R1: 1.5342
S2: 1.5259 R2: 1.5428
S3: 1.5227 R3: 1.5496
Technical overview:
We are still looking for a break above 1.5342 to confirm that we have seen a bottom at 1.5227 and the next powerful rally higher towards 1.5409 and 1.5627 in the long term. Ideally support at 1.5279 will protect the downside for the break above 1.5342, but only a break below 1.5227 will invalidate our bullish count for a push slightly lower, but the possible downside is very limited and we should stay focused on the upside.
Trading recommendation:
We are long EUR from 1.5315 with a stop at 1.4960. If you are not long EUR already, then we recommend buying a break above 1.5342 with the same stop.