EURUSD Technical Analysis: At the beginning of this week, the EUR/USD pair is trading in a bearish trend, with the pair recording its highest price so far at 1.02683 and its lowest price at 1.02056. Currently, the pair is trading at the level of 1.02450. Technical market analysis shows that prices are trading below the moving averages, indicating continued selling pressure and reinforcing the negative outlook in the near term.
EURUSD Technical Analysis: General Trend Analysis
The pair continues to trade in a bearish range during this week, reflecting weak buying momentum. The negative price movement confirms the presence of strong selling pressure in the market.
Technical Analysis
Moving Averages: Prices are trading below the short and long moving averages, reinforcing the bearish trend and indicating that sellers are in control of the market. If the pair continues to trade below these levels, the downtrend may deepen.
MACD Analysis: MACD is pointing to a negative trend, as the fast line of the indicator is still trading below the slow line, which reinforces expectations of a continuation of the downtrend. The negative crossover of the indicator reflects weak buying momentum, which indicates a possible continuation of the decline.
Forecast for the Euro Today:
The pair is expected to remain under selling pressure in the coming sessions, if prices continue to trade below the moving averages. The pair may soon face a support level at 1.0200, and if broken, the decline may extend towards 1.0180. On the other hand, any rises towards 1.0260-1.0270 may face strong resistance.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.02683 | 1.02056 |
| Target Point 1 (TP1) | First resistance: 1.02995 | First support: 1.01791 |
| Target Point 2 (TP2) | Second resistance: 1.03120 | Second support: 1.01582 |
| Stop Loss (SL) | 1.02056 | 1.02683 |
Based on the moving averages and MACD analysis, the overall trend for the EUR/USD pair is bearish in the short term, with selling pressure expected to continue in the upcoming sessions. Traders should carefully monitor support and resistance levels to identify future trading opportunities.
