EURUSD Technical Analysis: The EUR/USD pair is trading in a notable bullish trend today, recording a high of 1.0835 and a low of 1.0812. Currently, the pair is trading at 1.0822.
EURUSD Technical Analysis Trading Price Analysis:
The pair’s price exceeds the moving averages, which reinforces the bullish trend and indicates strong demand for the euro against the dollar. This signal is considered positive, as it supports the current trend.
Technical Indicators Analysis:
- MACD Indicator: The indicator shows a positive trend, reflecting positive momentum in the market. However, there are signs of weakness in the trend strength, which calls for attention to the possibility of a possible correction or decline.
- Other Indicators: It is preferable to follow the main support and resistance levels, as breaking any of them may determine new trends.
Expected Trading During the Day:
The pair is expected to continue trading within the bullish range, with the possibility of fluctuation near the current levels. If the buying pressure continues, we may witness a test of higher resistance levels. On the other hand, any signs of a decline in purchasing power should be monitored, which could lead to a temporary correction.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.0833 | 1.0802 | Entry point |
| First resistance: 1.0851 | First support: 1.0790 | Target Point 1 (TP1) |
| Second resistance: 1.0879 | Second support: 1.0780 | Target Point 2 (TP2) |
| 1.0802 | 1.0833 | Stop Loss (SL) |
The EUR/USD pair is showing an upward trend supported by the current technical analysis, but it is important to monitor any changes in momentum that may indicate a pullback. Trading with caution and evaluating technical indicators periodically will help in making informed decisions.
