EURUSD Technical Analysis: The EUR/USD pair witnessed the beginning of a bearish trend today, as the price retreated from the highest point recorded earlier today at 1.0795 to its lowest level at 1.0745, to currently trade near the 1.0747 level. In this context, the pair shows a clear bearish movement that reflects the weakness of the upward momentum.
which reflects more selling pressure in the short term.
EURUSD Technical Analysis: Technical Analysis
- Moving Averages: The current price trading below the moving average indicators indicates that the general trend of the price in the medium and long term is tending to decline. This decline below the moving average levels is a negative signal that supports the continuation of the downward trend.
- MACD Indicator: The MACD indicator shows signs of the beginning of a negative shift in momentum, as the indicator begins to form a bearish crossover, which indicates a decline in purchasing power and an increase in the possibility of continuing the negative corrective movement in the coming period.
Future Expectations:
Based on the technical analysis and the current review of the indicator tools, negative opportunities seem to be the most likely for the pair in the short term. The pair could continue to decline if the selling pressure persists, testing the nearest support levels. However, it is important to watch for any signs of an upward bounce that could undermine the downtrend if it occurs.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.0773 | 1.0734 |
| Target Point 1 (TP1) | First resistance: 1.0786 | First support: 1.0714 |
| Target Point 2 (TP2) | Second resistance: 1.0798 | Second support: 1.0695 |
| Stop Loss (SL) | 1.0734 | 1.0773 |
The general trend of the pair tends to be bearish as prices are trading below the moving averages and the MACD indicator is beginning to turn negative. It is important to closely monitor price developments and watch for any movements that may affect the general trend of the pair in the coming days.
