Euro (EUR/IRR) Extends Gains, Bullish Trend Confirmed

Market Summary

The Euro (EUR/IRR) closed higher on July 23, 2026, marking its third consecutive day of gains. The currency pair opened at 2,191,600 IRR and reached an intraday high of 2,208,000 IRR before settling at 2,206,800 IRR. The session's low was recorded at 2,191,500 IRR.

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Market Analysis

The Euro's closing price of 2,206,800 IRR represents an increase from its opening, contributing to a three-day upward movement. This recent advance follows a two-day decline observed on July 19 and July 20. The current session's low of 2,191,500 IRR was marginally below the open, indicating some initial downward pressure before prices recovered to close near the daily high. While the Euro recorded a higher close and a higher low compared to the previous session, the intraday high of 2,208,000 IRR remained below the recent peaks of 2,236,500 IRR (July 19) and 2,230,800 IRR (July 18).

The overall market structure indicates a bullish trend for the Euro against the Iranian Rial. The current price is trading above its 20-day, 50-day, and 200-day Simple Moving Averages, reinforcing this upward trajectory. The Euro is currently 1.33% below its 52-week high and significantly above its 52-week low, which is 82.32% away. The 30-day volatility stands at 1.87%. Key levels to watch include resistance at 2,236,500 IRR and support at 1,946,200 IRR.

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Technical Highlights

1. Trend Confirmation: The Euro (EUR/IRR) maintains a bullish trend, with its price trading above the 20-day, 50-day, and 200-day Simple Moving Averages. The 20-day SMA is at 2,092,305 IRR, the 50-day SMA at 2,014,704 IRR, and the 200-day SMA at 1,840,713 IRR, all well below the current close of 2,206,800 IRR.
2. Momentum Indicators: The Relative Strength Index (RSI) at 65.84 indicates moderately positive momentum, remaining above its neutral 50 level. The Commodity Channel Index (CCI) at 103.35 further supports this, suggesting strong upward momentum as it is above the +100 threshold.
3. MACD Signal: The Moving Average Convergence Divergence (MACD) shows a bullish signal, with the MACD line (61,031) positioned above its signal line (49,882), and the histogram displaying positive values (11,148), reinforcing the upward momentum.
4. Trend Strength: The Average Directional Index (ADX) at 28.23 suggests a strong trend is in place. The Plus Directional Indicator (+DI) at 42.61 is notably above the Minus Directional Indicator (-DI) at 20.62, indicating that buyers are in control of the current trend.
5. Trend Following: Both the Supertrend and Parabolic SAR (PSAR) indicators confirm the prevailing uptrend. The Supertrend is at 2,097,670 IRR, and the PSAR is at 2,156,310 IRR, with the price trading above both, signaling continued bullish direction.

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Conclusion

The Euro (EUR/IRR) concluded the July 23 session with a gain, extending its recent upward movement to three consecutive days. The price remains firmly within a bullish trend, supported by its position above key moving averages and positive signals from momentum and trend strength indicators such as the RSI, MACD, ADX, Supertrend, and PSAR. The available market data alone do not indicate the underlying cause of the observed price movement.

Live rates

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