EURUSD Technical Analysis: The EUR/USD pair continues to trade within a bearish range today, recording its highest level in the current trading session at 1.04862, while its lowest level reached 1.04569. At the moment, the pair is trading at 1.04714, indicating relatively sideways price movements within the general bearish trend.
EURUSD Technical Analysis: Technical Analysis
By analyzing the price action, we notice that the pair is trading below the main moving averages, which reinforces the idea of continuing the bearish trend in the short term. Technical indicators, such as the Exponential Moving Average indicator, confirm this negative view, as prices are trading below these averages, indicating continuous selling pressure.
MACD (Moving Average Convergence and Divergence) indicator also shows negative signals, as the indicator is trading in the negative zone and reflects a bearish divergence in the price action, which reinforces the hypothesis of completing the bearish pressure.
Market Outlook:
The pair is expected to continue its downward trend if trading continues below the moving averages. If the selling pressure continues, we may see moves towards the next support levels near 1.04626 and below.
With the continued negative expectations through technical indicators, the most likely scenario remains a continuation of the decline in the short term.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.04862 | 1.04626 |
| Target Point 1 (TP1) | First resistance: 1.04951 | First support: 1.04518 |
| Target Point 2 (TP2) | Second resistance: 1.05101 | Second support: 1.04351 |
| Stop Loss (SL) | 1.04626 | 1.04862 |
Current market movements indicate a continuation of the downtrend for the EUR/USD pair, especially with prices trading below the moving averages, and negative signals from the MACD indicator. It is important to follow any changes in the trend in case of decisive breaks of key resistance or support levels.
