EURUSD Technical Analysis: The EUR/USD pair is trading in a downward trend today, recording a high of 1.08615 and a low of 1.08172. The pair is currently trading around 1.08283, reflecting strong selling pressure and bearish dominance throughout the session.
EURUSD Technical Analysis: Price Analysis
- Today’s High: 1.08615
- Today’s Low: 1.08172
- Current Trading Price: 1.08283
The pair is showing moderate market volatility, with prices heading towards testing key support levels. Current trading below 1.08300 reflects the pair’s attempt to stabilize after a sharp decline, but selling pressure remains dominant.
Technical Analysis:
- Moving Averages:
Trading below the moving averages is a strong negative signal, supporting the possibility of a continuation of the downtrend. This indicates that the overall market momentum favors sellers, with the absence of strong technical support in the short term.
- MACD Indicator:
The MACD indicator is showing a negative signal, reflecting continued selling pressure and a dominant downtrend. This reinforces the possibility of a continued decline in the short term.
Trading Expectations:
- Bearish Scenario:
If selling pressure persists, the pair may move towards testing the nearby support level at 1.08112. If this level is broken, the pair may decline to the 1.07906 area as a target.
- Bullish Scenario:
In case the pair returns to the upside, the 1.08532 level will act as resistance, followed by the 1.08675 level. However, this scenario appears less likely given the current selling dominance.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.08532 | 1.08112 |
| Target Point 1 (TP1) | First resistance: 1.08675 | First support: 1.07906 |
| Target Point 2 (TP2) | Second resistance: 1.08782 | Second support: 1.07702 |
| Stop Loss (SL) | 1.08112 | 1.08532 |
The EUR/USD pair is showing a clear bearish trend today, supported by prices trading below the moving averages and negative MACD signals. Traders are advised to be cautious and adopt a sell-on strategy with careful risk management, especially amid ongoing selling pressure. Nearby support levels at 1.08112 and 1.07906 could be key milestones for the pair’s movement in the coming period.
