The EURUSD pair is trading on the H1-hour timeframe in a clear downtrend, having lost upward momentum after a failed correction attempt. The price appears below important resistance levels, reflecting continued selling pressure in the market.
EURUSD Technical Analysis: Market Overview
General Trend: Bearish with weak correction attempts.
Influencing Factors:
- Continued strength of the US dollar due to positive economic data.
- Weakness of the euro due to economic pressures in the Eurozone and the lack of signs of an interest rate hike from the European Central Bank.
- Anticipation of new US economic data that may determine the future direction of the pair.
EURUSD Technical Analysis: Technical Indicators Analysis
- Moving Averages
Short-term moving averages (20-50) indicate dynamic resistance around 1.0780 – 1.0790.
The 200-period moving average (dashed red) confirms the downtrend, as the price is clearly moving below it.
- MACD Indicator
The appearance of negative bars below the zero line reinforces the downtrend.
The fast line is moving below the slow line, indicating continued selling momentum.
- Stochastic Indicator
The indicator is at 17.20, indicating that the price is approaching oversold areas, but there is no strong rebound signal yet.
EURUSD Technical Analysis: Possible Scenarios
Bearish Scenario
- A break below 1.0760 will open the way for further declines towards 1.0745 – 1.0734.
- Continued trading below 1.0788 will maintain the downtrend unchanged.
Bullish Scenario
- If 1.0788 is broken and stabilized above it, we may witness a corrective rise towards 1.0810.
- A break above 1.0810 will change the short-term trend in favor of buyers.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.07800 | 1.07600 | Entry point |
| First resistance: 1.08100 | First support: 1.07350 | Target Point 1 (TP1) |
| Second resistance: 1.08400 | Second support: 1.07050 | Target Point 2 (TP2) |
| 1.07600 | 1.07800 | Stop Loss (SL) |
The EUR/USD pair continues its downward trend, supported by the selling pressure dominating the market. The price remains below the pivotal resistance level at 1.0788, reinforcing the negative outlook, with the potential for a further decline towards 1.0745 – 1.0734 if the nearby support levels are broken. Technically, the price remaining below the major moving averages reflects the sellers’ control, while the MACD and Stochastic signals support the continuation of the downtrend, despite the indicators approaching oversold areas.
