EURUSD Technical Analysis: The EUR/USD pair is trading in a bearish range today, as there is continuous selling pressure on the pair. The pair recorded its highest price so far at 1.0311 and its lowest price at 1.0279, and the current price of the pair at 1.0305 reflects the continuation of the negative trend in the market.
EURUSD Technical Analysis: Price Analysis
The technical analysis of the pair shows trading below the main moving averages, which reinforces the downward trend hypothesis. Prices continue to decline consistently, which indicates weak upward momentum and clear selling pressure on the pair.
Technical Analysis
Moving Averages:
The short- and medium-term moving averages indicate a bearish trend, as prices are trading below these averages, which reflects weak purchasing power in the market. The moving averages may act as resistance levels that prevent the pair from rising to higher levels.
MACD Indicator Analysis:
The MACD indicator shows negative signals, as it reflects a decline in the positive momentum of the pair, which reinforces the possibility of the downward trend continuing in the coming period. The red lines crossing the indicator indicates that there is negative force that exceeds the purchasing power in the market.
Trading Outlook:
Based on the current technical analysis, the selling pressure on the EUR/USD pair is expected to continue in the short term, with the possibility of testing the next support levels near 1.0279. Also, the continued trading of prices below the major moving averages may continue to push prices towards further declines.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.0328 | 1.0287 |
| Target Point 1 (TP1) | First resistance: 1.0345 | First support: 1.0264 |
| Target Point 2 (TP2) | Second resistance: 1.0355 | Second support: 1.0244 |
| Stop Loss (SL) | 1.0287 | 1.0328 |
In light of the current technical analysis, we can say that the general trend of the EUR/USD pair is bearish. The moving averages and MACD signals indicate that there is ongoing selling pressure, which makes the chances of the downtrend continuing in the near term.
