European session, Date: 06/28/2024
Introduction and overview
The EUR/USD pair is one of the most widely traded currency pairs in the Forex market. This pair reflects the relationship between the two largest economies in the world: the Eurozone and the United States of America. Below is a technical analysis of the EUR/USD pair based on currently available data. The pair is currently trading at $1.0696. Data indicates that prices are trading between most moving average crossings, reflecting trend weakness. The MACD indicator also shows the end of the negative trend.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.0711 | 1.0687 | Entry point |
| First resistance: 1.0735 | First support: 1.0665 | Target Point 1 (TP1) |
| Second resistance: 1.0760 | Second support: 1.0645 | Target Point 2 (TP2) |
| 1.0687 | 1.0711 | Stop Loss (SL) |
Conclusion
In light of the current technical analysis of the EUR/USD pair, the pair is showing a sustainable uptrend, supported by prices trading above most of the moving average crossovers and positive signals from the MACD indicator. These indicators reinforce confidence in the continuation of upward momentum in the near term.
However, traders should monitor global economic and political developments that may affect price movement. Flexibility and attention to potential changes in the market are essential for success in trading. We hope that this analysis has provided a clear and useful vision for investors and traders, and has helped them make informed investment decisions supported by technical data.
