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.
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.