Euro (EUR/IRR) Records Second Consecutive Daily Decline

Market Summary

The Euro (EUR/IRR) closed at 2,157,500 IRR on August 16, 2026, marking a decline of 2,400 IRR from its opening price of 2,159,900 IRR. The session's high matched the opening price at 2,159,900 IRR, while the low was recorded at 2,143,200 IRR. This represents the second consecutive day of declines for the Euro against the Iranian Rial.

Market Analysis

The latest session saw the Euro open at its daily high, indicating that the price did not trade above its opening level throughout the day. The closing price of 2,157,500 IRR was lower than the previous day's close of 2,160,500 IRR, extending a two-day consecutive decline.

Despite these recent pullbacks, the overall market structure for the Euro (EUR/IRR) is identified as bullish. The current price remains above both its 50-day and 200-day Simple Moving Averages, which are at 2,102,662 IRR and 1,962,503.5 IRR, respectively. However, the price has fallen below its 20-day Simple Moving Average of 2,174,480 IRR, suggesting short-term weakness.

The Euro is currently trading approximately 4.09% below its 52-week high, while being significantly above its 52-week low by about 63.15%. Volatility over the past 30 days stands at 1.34%. Key levels to watch include a support at 2,112,500 IRR and a resistance at 2,249,500 IRR.

Technical Highlights

• Moving Averages: The Euro's price is trading below its 20-day Simple Moving Average, indicating recent short-term downward pressure. However, it remains above both the 50-day and 200-day Simple Moving Averages, which typically suggests a longer-term bullish trend.
• MACD: The Moving Average Convergence Divergence (MACD) line is currently below its signal line, and the MACD histogram is negative. This configuration often points to weakening bullish momentum or a potential shift towards a bearish short-term trend.
• ADX: The Average Directional Index (ADX) is at 14.92, which is below the threshold of 20. This suggests that the market currently lacks a strong directional trend.
• Supertrend and PSAR: Both the Supertrend and Parabolic SAR (PSAR) indicators continue to signal an upward trend. The price remains above the Supertrend line (2,125,299 IRR) and the PSAR level (2,136,400 IRR), reinforcing the broader bullish trend despite recent price dips.
• Aroon Oscillator: The Aroon Oscillator is at -20.83, with the Aroon Down indicator (75.0) notably higher than Aroon Up (54.17). This suggests that recent downward price movements have been stronger over the lookback period.

Conclusion

The Euro (EUR/IRR) experienced a second consecutive daily decline, with the price closing below its 20-day Simple Moving Average. While momentum indicators like MACD and Aroon Oscillator suggest recent downward strength and weakening bullish momentum, the broader trend remains bullish as indicated by the price's position relative to longer-term moving averages, Supertrend, and PSAR. The low ADX value indicates a lack of strong directional conviction in the market. The available market data alone do not indicate the underlying cause of the observed price movement.

Live rates

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