EUR/USD Analysis: Today, EUR/USD prices are trading in a bearish trend, as the pair recorded its highest trading price so far at 1.0530, while it recorded its lowest price at 1.0491, and is currently trading at 1.0498. The price movement appears below the short- and medium-term moving averages, which reinforces the negative outlook and confirms the continuation of the downward trend.
EURUSD Technical Analysis: Technical Analysis
- Moving Averages: Prices are trading below the main moving averages, which indicates the continuation of selling pressure in the market. Trading below these averages reflects the preference of sellers to control the market, and supports the continuation of the downward trend in the short term.
- MACD Indicator: The MACD indicator shows a negative trend with signs of strength in the downward movement after a period of weakness. This indicator reflects the presence of selling momentum, which reinforces the general idea of continuing the downward trend.
Economic data and its impact on trading:
The market is awaiting the release of important US economic data, most notably the Producer Price Index (PPI).
which will significantly impact expectations regarding the Federal Reserve’s monetary policy. If the data comes out stronger than expected, it may support the continuation of the pair’s downward trend by strengthening expectations of a rate hike by the US Federal Reserve.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.0516 | 1.0489 |
| Target Point 1 (TP1) | First resistance: 1.0526 | First support: 1.0473 |
| Target Point 2 (TP2) | Second resistance: 1.0537 | Second support: 1.0459 |
| Stop Loss (SL) | 1.0489 | 1.0516 |
Based on the current technical analysis and the expected economic data, the EUR/USD pair is likely to continue its downward trend in the short term. Economic data developments.
especially the US Producer Price Index, should be monitored as they can have a significant impact on determining the next market direction.
