EURUSD Technical Analysis: The EUR/USD pair is trading in a bearish trend today, with a noticeable decline in prices. After recording its highest price in the current session at 1.0358 and the lowest price at 1.0271, the pair is currently stabilizing around the 1.0292 level. Technical analysis indicates that the market is reflecting declines, supported by technical indicators showing selling pressure.
EURUSD Technical Analysis: Trading Price Analysis
The pair has witnessed limited movements so far, as prices traded between the high of 1.0358 and the low of 1.0271. At the moment, the pair is trading at the 1.0292 level, reflecting fluctuations within a narrow range. This fluctuation indicates the lack of strong momentum from either party (sellers or buyers) during this period.
Technical Analysis:
- Moving Averages: Prices are currently trading below the moving average levels, which reflects the market’s preference for the downside trend at the moment. When the price trades below the moving averages (whether 50 or 200), this usually indicates a continuation of the downtrend, which reinforces the hypothesis of selling pressure.
- MACD Indicator: The MACD indicator is currently showing negative signals, which reinforces the idea of a continuation of the downtrend. The MACD line is below the signal line, which indicates a decline in purchasing power in favor of selling power. The distance between the two lines also indicates the possibility of a continuation of the downtrend for a longer period.
Trading Expectations:
In light of the current data, the pair is likely to continue moving within a bearish range, with the possibility of testing support levels near 1.0270. If selling pressure continues, the pair may witness further declines towards the next support levels. On the other hand, in the event of an upward rebound, the pair may have to overcome the resistance of 1.0350 to show any signs of an upward reversal.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.0327 | 1.0271 |
| Target Point 1 (TP1) | First resistance: 1.0343 | First support: 1.0244 |
| Target Point 2 (TP2) | Second resistance: 1.0366 | Second support: 1.0230 |
| Stop Loss (SL) | 1.0271 | 1.0327 |
The analysis indicates that the general trend of the EUR/USD pair is currently bearish, supported by the price trading below the moving averages and the MACD indicator turning negative. Based on these factors, the selling pressure on the pair is expected to continue in the upcoming sessions. However, it is important to follow any signals that may indicate a change in the trend, such as a break of resistance levels or an improvement in the MACD indicator.
