EURUSD Technical Analysis: Today, the EUR/USD pair is trading in a bearish trend, recording a session high of 1.09154 and a low of 1.08318. The pair is currently trading around 1.08430, reflecting ongoing selling pressure.
EURUSD Technical Analysis: Technical Analysis
Using Moving Averages:
Price action appears to be trading below the major moving averages, reinforcing the likelihood of a short-term downtrend. This situation indicates the dominance of selling forces, as the moving averages act as dynamic resistance levels, which could push the pair towards testing lower support levels in the coming period.
MACD Analysis:
The MACD supports the current downtrend, showing negative signals with the signal line below the MACD line, in addition to strong selling energy in the negative territory. This reflects bearish momentum that could continue to push the pair towards lower levels, especially if negative signals continue to appear.
EUR/USD Trading Forecast:
Given the current selling pressure, the EUR/USD pair can be expected to continue, with a potential test of the nearby support level at 1.08294. A break above this level could push the pair towards deeper support levels at 1.08023. Conversely, if the pair regains strength and breaks the resistance level at 1.08724, it could see a temporary recovery towards 1.08908. However, the overall trend remains bearish for now.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.08724 | 1.08294 |
| Target Point 1 (TP1) | First resistance: 1.08908 | First support: 1.08023 |
| Target Point 2 (TP2) | Second resistance: 1.09100 | Second support: 1.07990 |
| Stop Loss (SL) | 1.08294 | 1.08724 |
Technical analysis for the EUR/USD pair indicates a bearish trend, supported by prices trading below the moving averages and negative MACD signals. Therefore, traders can monitor nearby support levels, such as 1.08294, as the pair may test these levels if selling pressure persists. However, it is advisable to monitor any changes in technical indicators or economic news that could affect the market’s direction.
