European session, Date: 07/03/2024
Introduction and overview
The EUR/USD pair has been trading since the beginning of 2024 in a limited price zone, between the 1.0600 area and the 1.0900 area. Current data indicates that trading volume is below the usual average, reflecting some hesitation or caution among investors at the moment. Below is a technical analysis of the EUR/USD pair based on currently available data. The pair is currently trading at $1.0753. The data indicates that prices are trading above most of the moving average crossings, reflecting the strength of the trend. The MACD indicator also shows a weakness in the strength of the positive trend.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.0763 | 1.0746 | Entry point |
| First resistance: 1.0785 | First support: 1.0726 | Target Point 1 (TP1) |
| Second resistance: 1.0800 | Second support: 1.0600 | Target Point 2 (TP2) |
| 1.0714 | 1.0733 | Stop Loss (SL) |
Conclusion
Limited trading in the EUR/USD pair and low trading volume reflect caution among investors. Although prices are trading above moving average crossovers, indicating trend strength, a weak MACD indicator indicates a possible decline in the positive strength of the current trend. Investors should follow economic and political developments closely to make informed decisions under these circumstances.
