EURUSD Technical Analysis: The EUR/USD pair is currently trading in an upward trend, with the pair recording a high of 1.0596 and a low of 1.0548. At the moment, the pair is trading at 1.0562, indicating relative stability in prices near the midpoint between the high and low of the day.
EURUSD Technical Analysis: Technical Analysis:
Moving Averages:
The chart of the pair shows that prices are trading above the moving average indicators on different time periods, reflecting a continuing bullish trend in the short and medium term. This signal supports the continuation of the bullish trend.
but there are some signs that indicate the beginning of a decline in the strength of the bullish momentum.
MACD Indicator:
The MACD indicator is indicating a positive trend, as the main line of the indicator is still above the signal line. However, there are some signs of a decline in the bullish momentum with the convergence of the main lines of the indicator, which may reflect a weakness in the strength of the current bullish trend. The indicator should be closely monitored in the coming hours to monitor any changes in the general trend.
Today’s outlook:
If the pair continues to trade above the main moving averages, the bullish trend is expected to continue in the short term.
with the possibility of testing new resistance levels near 1.0600. On the other hand, if the pair fails to maintain these levels, we may witness a downward correction in prices towards the 1.0540 level or even 1.0500 if the selling pressure continues.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.0575 | 1.0538 |
| Target Point 1 (TP1) | First resistance: 1.0596 | First support: 1.0523 |
| Target Point 2 (TP2) | Second resistance: 1.0615 | Second support: 1.0513 |
| Stop Loss (SL) | 1.0538 | 1.0575 |
Based on the current technical analysis, the EUR/USD pair is still in an uptrend.
but there are signs of some weakness in the upward momentum. It is important to monitor the developments of the MACD indicator and current technical levels to determine the expected trading path for the rest of the day.
