EURUSD Technical Analysis :continues its downward trend at the beginning of this week, recording a decline for the second week in a row. Its highest price on the first day of the week was 1.0930, while its lowest price was 1.0912. Currently, the pair is trading at 1.0922.
EURUSD Technical Analysis: Technical Analysis
When analyzing the chart, the downward trend is clearly visible. Prices are also trading below the moving averages, which confirms the continuation of this trend. In addition, the MACD indicator shows strength in the downward trend, indicating that sellers control the market.
Strengths and weaknesses in the analysis:
- Strengths:
The clarity of the downward trend on the chart.
Confirmation of the trend through technical indicators such as moving averages and MACD.
- Weaknesses:
A sudden upward correction may occur at any time, which may overturn expectations.
Relying on technical indicators may show inaccurate signals at times.
Outlook:
The pair is expected to continue its downward trend during the day, with the possibility of testing nearby support levels. Traders should follow economic data and political events that may affect the pair’s movement.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.0962 | 1.0900 | Entry point |
| First resistance: 1.0985 | First support: 1.0874 | Target Point 1 (TP1) |
| Second resistance: 1.0999 | Second support: 1.0848 | Target Point 2 (TP2) |
| 1.0900 | 1.0962 | Stop Loss (SL) |
Trading remains under pressure from sellers, and it is advisable to watch for any reversal signals before making new trading decisions. Investors should remain cautious in the current circumstances.
