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.
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.