EURUSD Technical Analysis: The EUR/USD pair is trading in a downtrend today, with selling pressures continuing.
EURUSD Technical Analysis Price levels:
- Today’s High: 1.1039
- Today’s Low: 1.1018
- Current Price: 1.1030
Price Action:
- The chart shows a sideways trading movement as we await the release of important economic data.
Awaiting Economic Data:
- Non-Farm Employment Change.
- Unemployment Rate.
- This data is expected to significantly impact the pair’s movements, whether positively or negatively.
Technical Analysis:
- Moving Averages: Prices are still trading below the average levels, indicating the continuation of the downtrend.
- MACD Indicator: Shows weakness in negative momentum, raising doubts about the possibility of the trend turning positive.
Forward Outlook:
- Trading is expected to be volatile as economic data is released. Traders should monitor any signs of a trend change.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.1057 | 1.1015 | Entry point |
| First resistance: 1.1076 | First support: 1.0990 | Target Point 1 (TP1) |
| Second resistance: 1.1091 | Second support: 1.0971 | Target Point 2 (TP2) |
| 1.1015 | 1.1057 | Stop Loss (SL) |
Traders should be prepared to adapt their strategies according to the results of economic data, as it can have a significant impact on market movement. Following technical indicators helps in making informed decisions.
