EURUSD Technical Analysis: The EUR/USD pair is trading in a bearish trend today, recording a high of 1.0413 and a low of 1.0395, with the current price reaching 1.0403. The market seems to be witnessing significant selling pressure, which is reflected in the price movement at the moment. This movement indicates a continued weakness in the upward momentum, which reinforces the general outlook for the downside in the short term.
EURUSD Technical Analysis: Price Analysis
Prices are currently trading below the moving averages, reflecting weak purchasing power and sellers’ preference in the market. The price remaining below these averages supports expectations of continued selling pressure in the short term. This situation reflects a negative picture for investors who are currently looking for selling opportunities.
Technical Analysis
Moving Averages:
The moving average indicators show that the market is still in a bearish trend. The short-term moving averages are below the long-term averages, which reinforces the negative outlook for the market. This distribution suggests that selling pressure will continue unless a sudden upward breakout of key resistance levels occurs.
MACD Analysis: The MACD indicator indicates a negative trend in the market, with a weakening of selling momentum. Although the lines are still in the negative territory, the convergence of the lines reflects the possibility of a decrease in selling pressure in the near future. A bullish crossover may appear if the market turns in favor of buyers, but so far, indicators do not indicate such a turn.
Trading Expectations:
The downward trend is expected to prevail in the coming period, especially if the price continues to trade below the major moving averages. If this trend continues, we may see a test of the next support level at 1.0380. However, if a breakout of the resistance levels near 1.0420 occurs, the market may witness a temporary upward correction.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.0421 | 1.0392 |
| Target Point 1 (TP1) | First resistance: 1.0430 | First support: 1.0378 |
| Target Point 2 (TP2) | Second resistance: 1.0440 | Second support: 1.0358 |
| Stop Loss (SL) | 1.0392 | 1.0421 |
The market is currently showing a clear preference for sellers, as selling pressure remains dominant with prices trading below the moving averages and supported by MACD signals. The general market trend indicates a possible continuation of the downward movement in the short term, with the need to monitor any changes in selling momentum or if technical indicators start to indicate a possible reversal in the trend.
