EURUSD Technical Analysis : The Dollar Continues to Strengthen

EURUSD Technical Analysis: The EUR/USD pair continues to trade in a bearish trend, currently trading at 1.0929. The pair recorded its highest price during the day at 1.0945, before falling to its lowest level at 1.0924.

EURUSD Technical Analysis: Fundamental Analysis

The pair is expected to be affected by the release of important US economic data, most notably the Consumer Price Index, which may have a significant impact on price movements. This data will reflect the general direction of the US economy and may lead to volatility in the Forex market.

Technical Analysis:

Looking at the chart, we find that prices are still trading below the moving averages intersections, which reinforces the downward trend. The MACD indicator is also showing a negative signal, indicating the dominance of sellers in the market.

Today’s Trading Expectations:

Based on these indicators, the downward pressure on the pair is expected to continue. Investors are required to focus on the key support and resistance levels, especially as economic data is approaching.

EURUSD Technical Analysis

Trading strategies based on Buy/Sell levels

In case of buying in case of selling EURUSD
1.0966 1.0908 Entry point
First resistance: 1.0985 First support: 1.0884 Target Point 1 (TP1)
Second resistance: 1.0998 Second support: 1.0862 Target Point 2 (TP2)
1.0908 1.0966 Stop Loss (SL)

 

Analysis suggests that the downtrend in the EUR/USD pair may continue, but economic data should be closely monitored for its potential impact on market movement.

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