EURUSD Technical Analysis: The EUR/USD pair is trading today in a clear downtrend, as the pair recorded its highest price at 1.0564 and its lowest price at 1.0493, and it is currently trading near the 1.0506 level. This performance indicates that the selling pressure on the pair continues at the present time.
EURUSD Technical Analysis: Technical Analysis
- Moving Averages:
The pair is trading below the main moving averages, which reinforces expectations of a continuation of the downtrend in the short term. Especially with prices trading below the 50 Simple Moving Average (SMA50) and the 200 Moving Average (SMA200), which reflects a state of dominant negative pressure.
- MACD Indicator:
The MACD indicator indicates a negative trend, as a bearish crossover appears between the MACD line and the signal line.
which reinforces the strength of the current downtrend. The distance between the two lines also confirms the strength of the ongoing selling pressure.
Trading Outlook:
- If the pair continues to trade below 1.0500, it is likely to witness further decline towards stronger support levels such as 1.0450 or 1.0400.
- If the pair manages to hold above 1.0500, we may witness some corrective moves upwards towards resistance levels such as 1.0550 or 1.0600, but the general trend remains bearish for the time being.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.0532 | 1.0491 |
| Target Point 1 (TP1) | First resistance: 1.0545 | First support: 1.0471 |
| Target Point 2 (TP2) | Second resistance: 1.0555 | Second support: 1.0451 |
| Stop Loss (SL) | 1.0491 | 1.0532 |
The overall trend of the EUR/USD pair shows bearish pressure with confirmation from technical indicators such as moving averages and MACD. Based on the current technical analysis.
the pair is expected to continue in the downtrend as long as prices remain below the major moving averages, with short-term upward corrections possible if there is strong support near 1.0500.
