EURUSD Technical Analysis: Today, the pair is trading in a strong bearish trend, having witnessed a significant decline from its high of 1.1047 to its lowest level so far at 1.1022, with the current price at 1.1035. This bearish trend reflects a clear selling pressure in the market.
EURUSD Technical Analysis: Technical Analysis
Moving Average Indicators
The moving average indicators show that prices are trading below them, which reinforces the strength of the downtrend. This indicates that selling pressure remains dominant, as prices have not been able to return to higher levels.
MACD Indicator
When analyzing the MACD indicator, we notice a decline in the negative trend, which indicates a weakening in the sellers’ strength. However, the overall trend of the pair remains bearish, as sellers still control the market, but with caution.
Trading Insight Into the Day
As the downtrend continues, the EUR/USD pair is expected to face strong resistance at the 1.1040 and 1.1050 levels. If the support level of 1.1020 is broken, we may witness further decline towards 1.1000.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.1061 | 1.1025 | Entry point |
| First resistance: 1.1075 | First support: 1.1007 | Target Point 1 (TP1) |
| Second resistance: 1.1095 | Second support: 1.0982 | Target Point 2 (TP2) |
| 1.1025 | 1.1061 | Stop Loss (SL) |
The EUR/USD pair remains under clear selling pressure, with signs of weakening sellers’ strength. Support and resistance levels should be closely monitored throughout the day to identify optimal entry and exit points.
