EURUSD Technical Analysis: The EUR/USD pair is trading today within a bearish trend, starting with a high of 1.09448 and reaching a low of 1.08726. Currently, the pair is trading around 1.09143, reflecting volatility within the general downward trend.
EURUSD Technical Analysis: General Trend Analysis
The pair is showing signs of continued downward pressure, with prices currently trading below the major moving averages, reinforcing the likelihood of continued bearish dominance in the short term. This trend is also supported by other technical formations that indicate weak upward momentum.
Technical Analysis:
- Moving Averages:
Prices are currently trading below the moving averages, reflecting clear downward pressure and indicating that sellers are dominating the market.
- MACD Indicator:
The MACD indicator is showing bearish signals, with the MACD line trending downward relative to the signal line, supporting the possibility of a continued downward trend in the coming period.
- Support and Resistance Levels:
Support: The main support is located at 1.08726, the low recorded today.
Resistance: The main resistance level is located at 1.09448, the high recorded today.
Trading Outlook:
Given the continued downward pressure and negative technical indicator formations, the pair is expected to continue moving towards nearby support levels, with the possibility of testing 1.08991 again. If this level is broken, the pair may move towards deeper support levels. On the other hand, any upward movement may encounter strong resistance at 1.09321, which could return the pair to its downward path.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.09321 | 1.08991 |
| Target Point 1 (TP1) | First resistance: 1.09469 | First support: 1.08800 |
| Target Point 2 (TP2) | Second resistance: 1.09587 | Second support: 1.08600 |
| Stop Loss (SL) | 1.08991 | 1.09321 |
The EUR/USD pair is showing strong bearish signs supported by technical indicators, suggesting a continued downward trend in the short term. Traders are advised to monitor key support and resistance levels and be wary of any sudden developments that could impact price action.
