EURUSD Technical Analysis: Bearish Trend

EURUSD Technical Analysis: The EUR/USD pair is trading in a bearish trend today, as the pair shows clear selling pressure during the current session. The pair started the day at a high of 1.04890, but declined significantly to reach a low of 1.04111, and is currently trading around 1.04186, reflecting the dominance of sellers in the market at the moment.

EURUSD Technical Analysis: Technical Analysis

Moving Averages:

The EUR/USD pair is currently trading below the main moving averages, indicating a strong bearish trend in the short and medium term. This situation reflects ongoing selling pressure, with the possibility of a continued decline if the pair continues to trade below these averages.

MACD Indicator:

The MACD indicator is showing a negative signal, as the Signal Line is above the MACD line, in the negative zone. This reinforces the bearish signals and indicates the continuation of the selling momentum in the market.

Today’s Trading Outlook:

Given the current selling dominance, the pair is expected to continue trading in a bearish direction during the current session, with the possibility of testing new support levels. The next support level that the pair may target is located around 1.04000, and in case of breaching this level, the pair may move towards 1.03500. On the other hand, any upward correction will face strong resistance around 1.04500 and 1.04800.

EURUSD Technical Analysis

Trading strategies based on Buy/Sell levels

EURUSD In case of buying in case of selling
Entry point 1.04416 1.04037
Target Point 1 (TP1) First resistance: 1.04555 First support: 1.03816
Target Point 2 (TP2) Second resistance: 1.04590 Second support: 1.03625
Stop Loss (SL) 1.04037 1.04416

 

The EUR/USD pair is showing a clear downtrend with prices trading below the moving averages and negative MACD signals. Traders are advised to monitor the mentioned support and resistance levels, while being cautious of any sudden developments that may affect liquidity or market direction. Short selling strategies with careful risk management are preferable under the current conditions.

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