EURUSD Technical Analysis: The EUR/USD pair is trading in an upward trend today, reflecting a relative improvement in confidence towards the European currency. This trend comes at a sensitive time as investors await the release of important US economic data, including the Non-Farm Employment Change Index, which is expected to significantly affect market movement.
EURUSD Technical Analysis: Price Analysis
The EUR/USD pair recorded its highest price today at 1.0887 and the lowest price at 1.0850, and is currently trading at 1.0867. Price movements indicate significant trading activity within a narrow range, reflecting a balance between buying and selling forces.
Technical Analysis
Moving Averages: The pair is trading above the moving average indicators, which reinforces the strength of the current bullish trend.
MACD Indicator: The MACD indicator shows a positive trend, but there are some signs of weakness in the trend strength, which calls for caution.
Trading Forecast
Based on technical analysis and upcoming economic data, the EUR/USD pair is expected to continue trading within an upward range, provided that there are no major negative moves due to US data. If the data comes out positive, we may see the bullish momentum continue, while any decline in the data may lead to volatility in the trend.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.0877 | 1.0852 | Entry point |
| First resistance: 1.0887 | First support: 1.0844 | Target Point 1 (TP1) |
| Second resistance: 1.0910 | Second support: 1.0831 | Target Point 2 (TP2) |
| 1.0852 | 1.0877 | Stop Loss (SL) |
The EUR/USD pair remains in a good position to enter long trades, while keeping a close eye on economic news. Traders should be prepared to adapt to any new developments that affect the market, especially after the release of important data.
