EURUSD Technical Analysis The EUR/USD pair is trading under corrective pressure after strong gains in early April, driven by a weaker dollar due to recent weak US employment data. As markets await the release of the US Federal Reserve meeting minutes in the coming days, movements have begun to become more cautious, leading to clear price fluctuations within a narrow range.
EURUSD Technical Analysis :Price Action Details H1 Data
- Today’s High: 1.09267
- Today’s Low: 1.09053
- Current Price: 1.09225
The pair is currently moving within a bearish consolidation range, approaching an important support level at 1.0920, while significant resistance appears at 1.0980.
Technical Analysis and Key Indicators
General Trend:
The short-term trend has begun to shift to a bearish neutral, with the price failing to maintain upward momentum and breaking the moving averages.
MACD
Indicates a clear loss of upward momentum, as it has turned negative, reinforcing the chances of continued downward pressure in the short term.
Stochastic Oscillator
The indicator is trading in the downtrend, but it has not yet entered the oversold zone, which means there is room for further technical decline before a potential rebound.
EUR/USD Trading Forecasts and Recommendations
Possible Bullish Scenario:
If it holds above 1.09551 and breaks the resistance at 1.09801, we may see a return to moving towards 1.09904.
Probable Bearish Scenario:
A break of 1.08838 will push the price down towards 1.08452 and then 1.08241, especially if the dollar continues to strengthen following positive economic data.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.09551 | 1.08838 |
| Target Point 1 (TP1) | First resistance: 1.09801 | First support: 1.08452 |
| Target Point 2 (TP2) | Second resistance: 1.09904 | Second support: 1.08241 |
| Stop Loss (SL) | 1.08838 | 1.09551 |
The EUR/USD pair is testing critical support after losing upward momentum, and the market appears to be waiting for fresh stimulus from the Federal Reserve or European economic data to determine its next direction.
