Currency

Euro (EUR/IRR) Retreats from Intraday Highs as Bullish Trend Persists

The Euro (EUR/IRR) experienced an intraday pullback on November 2, 2026, despite opening higher. The currency pair opened at 3,065,900 IRR and reached an int...

Euro to IRR technical analysis cover

Market Summary

The Euro (EUR/IRR) experienced an intraday pullback on November 2, 2026, despite opening higher. The currency pair opened at 3,065,900 IRR and reached an intraday high of 3,078,300 IRR. However, it subsequently retreated, closing the session at 3,049,700 IRR. This close still represented an increase from the previous session's close.

Interactive price chart

Market Analysis

The Euro (EUR/IRR) maintains an overall bullish trend, with the price trading above its 20-day, 50-day, and 200-day Simple Moving Averages. The latest session saw the Euro approach its 52-week high, coming within 0.93% of that level, and touching the identified resistance at 3,078,300 IRR before pulling back. Despite the intraday retreat from its high, the Euro recorded its fourth consecutive day of gains based on the provided data, extending its upward movement. The session's range, from a low of 3,047,300 IRR to a high of 3,078,300 IRR, indicates active trading.

Technical Highlights

  1. Trend Confirmation: The overall trend for the Euro (EUR/IRR) is identified as bullish. This is supported by the price trading above its 20-day, 50-day, and 200-day Simple Moving Averages, as well as the Supertrend and PSAR indicators, which both signal a positive direction.
  2. Momentum Indicators: Momentum remains positive, with the 14-period Relative Strength Index (RSI) at 63.84, indicating strength above its neutral level. The Commodity Channel Index (CCI) at 111.47 further reinforces strong upward momentum.
  3. Trend Strength: The Average Directional Index (ADX) is at 28.44, suggesting a trending market. The Plus Directional Indicator (+DI) of 39.92 significantly outweighs the Minus Directional Indicator (-DI) of 22.02, confirming the strength of the bullish trend.
  4. Short-term Momentum Shift: While the broader trend is bullish, the Moving Average Convergence Divergence (MACD) histogram is negative, and the MACD line is below its signal line. This suggests a potential short-term weakening or deceleration of bullish momentum.
  5. Price Levels and Recent Highs: The Euro approached its 52-week high and encountered resistance at 3,078,300 IRR during the session. The Aroon Up indicator at 0.0 suggests a lack of new highs within its lookback period, aligning with the price encountering resistance.

Conclusion

The Euro (EUR/IRR) continues to exhibit a bullish trend, supported by its position relative to key moving averages and positive momentum indicators. The instrument recorded its fourth consecutive day of gains, although the latest session saw a pullback from intraday highs after touching a resistance level. While the overall trend remains strong, some technical indicators suggest a potential short-term moderation in upward momentum. The available market data alone do not indicate the underlying cause of the observed price movement.

Live rates

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