European session, Date: 07/18/2024
Introduction and overview
The EUR/USD pair continues to trade in a narrow range since the beginning of the third week of July 2024, between the price levels of 1.0882 and 1.0916 dollars. While the uptrend is showing strong strength, the price is still struggling to cross these two areas. Since the beginning of the third week of July 2024, the EUR/USD pair has been trading between two main price areas: support at $1.0882 and resistance at $1.0916. The pair is currently trading at $1.0934. This narrow price range reflects a state of hesitation in the market, as the pair was unable to break either of these levels decisively. Most of the moving average crosses are trading, indicating a continuation of the uptrend. The MACD indicator also supports this trend, indicating relative strength in the upward momentum.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.0943 | 1.0927 | Entry point |
| First resistance: 1.0970 | First support: 1.0900 | Target Point 1 (TP1) |
| Second resistance: 1.0995 | Second support: 1.0875 | Target Point 2 (TP2) |
| 1.0927 | 1.0943 | Stop Loss (SL) |
Conclusion
In general, the EUR/USD pair continues to trade within a narrow range between $1.0882 and $1.0916 since the beginning of the third week of July 2024. Although the upward trend shows tangible strength, the market shows reluctance to exceed these crucial levels. The pair’s movement remains predictable based on monitoring support and resistance points and technical indicators such as moving averages and MACD, providing guidance to traders in making their investment decisions.
