EURUSD Technical Analysis: The EUR/USD pair is trading in a bearish trend at the beginning of this week. Despite some attempts to mitigate the decline, the overall trend remains bearish. The pair recorded a high of 1.0984 and a low of 1.0953, and is currently trading at 1.0975. The price action shows a noticeable fluctuation between the rise and fall.
EURUSD Technical Analysis Indicators Analysis:
Looking at the technical indicators, we find that the prices are trading below the moving averages, which confirms the bearish trend. The MACD indicator also shows a bearish trend, but with a noticeable weakness in the strength of the decline. This suggests that the bearish momentum may be on its way to weakening, which may open the way for some potential upward movements.
Possible Expectations:
During the day, the pair is expected to continue to fluctuate within the current trading range. If it manages to break the resistance level at 1.0984, we may see upward movements towards higher levels. However, if the selling pressure continues, the pair may head towards lower levels reaching 1.0950.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.1004 | 1.0956 | Entry point |
| First resistance: 1.1022 | First support: 1.0929 | Target Point 1 (TP1) |
| Second resistance: 1.1039 | Second support: 1.0900 | Target Point 2 (TP2) |
| 1.0956 | 1.1004 | Stop Loss (SL) |
Based on the current technical analysis, traders are advised to closely monitor the price action. Focusing on technical indicators will be essential to identify entry and exit points. At the moment, caution is advised, as the overall trend is still bearish but with signs of weakening momentum.
