EURUSD Technical Analysis: Bearish Trading

EURUSD Technical Analysis: The EUR/USD pair is trading today at the beginning of a bearish trend after the previous bullish trend declined. The pair recorded a high of 1.0868 and a low of 1.0843, and is currently trading at 1.0852.

EURUSD Technical Analysis: General Trading Trend

The current analysis indicates that the pair has entered a bearish phase, as trading below the moving averages reflects a weakness in the upward momentum. The chart shows a noticeable decline in prices, which enhances the chances of the downward trend continuing in the near future.

Technical Analysis

Moving Average Indicators:

Trading below the moving averages supports the downward trend. This may be considered an indication of weak purchasing power and continued selling pressure.

MACD Indicator:

MACD Indicator reflects the beginning of the end of the positive trend with the emergence of new negative signals. This indicates the possibility of continued price decline in the coming period.

Today’s Forecast

Based on technical analysis, the pair is likely to continue its downward trend during today’s trading, with the possibility of testing new support levels. Traders are advised to closely monitor developments and be ready to make appropriate moves.

EURUSD Technical Analysis

Trading strategies based on Buy/Sell levels

In case of buying in case of selling EURUSD
1.0873 1.0840 Entry point
First resistance: 1.0885 First support: 1.0824 Target Point 1 (TP1)
Second resistance: 1.0899 Second support: 1.0805 Target Point 2 (TP2)
1.0840 1.0873 Stop Loss (SL)

 

The EUR/USD pair appears to be facing strong challenges in maintaining gains. It is important to follow technical indicators and market updates to make the most of potential price moves.

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