EURUSD Technical Analysis: The euro has held relatively steady in recent sessions, supported by a limited improvement in Eurozone data, particularly from Germany. However, weak global risk appetite and the dollar’s return to the forefront after US bond yields stabilized weighed on the pair’s movement.
Statements by some Federal Reserve members regarding the possibility of keeping interest rates high for a longer period strengthened the dollar, reducing the euro’s upward momentum and pushing it to test important support levels.
Technical Indicator Analysis
Moving Averages
The price is currently trading below the 50-day moving average, but above the 100-day moving average and the 200-day moving average.
We may see a trend reversal if 1.1269 is broken.
MACD
Has begun to turn negative, with a clear bearish crossover.
Momentum is steadily declining
Stochastic
In a bearish zone (around 25), indicating continued negative pressure.
Not yet entering oversold areas
EURUSD Technical Analysis: Possible Scenarios
Bullish Scenario
A break of 1.1297 opens the way to 1.1269.
A break of 1.1269 will lead to a downward acceleration towards 1.1230.
Bearish Scenario
A rebound from 1.1297 may retest 1.1326 and then 1.1346.
However, any upside below 1.1376 will remain limited..
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.13463 | 1.12970 | Entry point |
| First resistance: 1.13765 | First support: 1.12696 | Target Point 1 (TP1) |
| Second resistance 1.13594 | Second support 1.12459 | Target Point 2 (TP2) |
| 1.12970 | 1.13463 | Stop Loss (SL) |
The EUR/USD pair has entered a clear bullish weakness phase after the failure to break the 1.1376 resistance level. With negative signals emerging on the MACD and Stochastic, selling on the break is currently the best scenario.
It is recommended to closely monitor the break of the 1.1297 support level, targeting 1.1269 and then 1.1230, while keeping the stop loss above 1.1346.
