EURUSD Technical Analysis: The US dollar pair is trading in a bearish trend today, recording a session high of 1.0572 and a low of 1.0529. Currently, it is trading around the 1.0549 level. Technical analysis shows that prices are trading below the main moving average indicators, which reinforces the bearish market trend.
EURUSD Technical Analysis Technical Analysis:
Moving Average Analysis:
By examining the short- and long-term moving averages, we find that prices are trading below both moving averages, indicating the dominance of the bearish trend in the short and medium term. This technical confirmation enhances the possibility of a continued decline in the event of continued selling pressure.
MACD Indicator:
The MACD (Moving Average Convergence Divergence Indicator) indicator indicates a negative trend, as the MACD line is trading below the signal line. This reflects weak bullish momentum and supports the continuation of the bearish trend in the coming hours. The failure of prices to break through nearby resistance levels also increases the chances of further decline.
Trading Outlook:
The downtrend is expected to continue throughout the day, if trading continues below the major moving averages. Nearby support levels at 1.0529 should be monitored, as this area may be important to identify a potential reversal or continuation of the decline. In case of breaking these levels, the decline may extend towards lower support areas at 1.0500.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.0577 | 1.0533 |
| Target Point 1 (TP1) | First resistance: 1.0595 | First support: 1.0508 |
| Target Point 2 (TP2) | Second resistance: 1.0610 | Second support: 1.0480 |
| Stop Loss (SL) | 1.0533 | 1.0577 |
Given the clear weakness in the bullish momentum, and the negative trends in both the moving averages and the MACD, the selling pressure on the EUR/USD pair is expected to continue today. Investors remain watching the key technical levels, especially the 1.0529 support, to make informed trading decisions based on the upcoming market movements.
