EURUSD Technical Analysis: The EUR/USD pair is witnessing an upward movement today, with some signs of weakness in the upward momentum. The pair recorded a high of 1.11052, while the low of 1.09625 was reached, and it is currently trading around 1.10582.
EURUSD Technical Analysis: Technical Analysis of EUR/USD
Moving Averages
The pair is trading above most of the major moving averages, reinforcing the current uptrend. This indicates the presence of buying power, but with some slight pullbacks.
MACD Indicator
The MACD indicator is showing a positive signal with slight weakness in momentum:
- The signal line crossing above the zero line indicates a continuation of the uptrend.
- The decreasing volume of the histogram may indicate a slowdown in momentum, which calls for caution regarding potential corrections.
EUR/USD Trading Forecast
- Bullish scenario: If trading continues above 1.10910, the pair may target 1.11338 and then 1.11541.
- Bearish scenario: If the price falls below 1.10053, it may decline towards 1.09720, which serves as key support.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.10910 | 1.10053 |
| Target Point 1 (TP1) | First resistance: 1.11338 | First support: 1.09720 |
| Target Point 2 (TP2) | Second resistance: 1.11541 | Second support: 1.09622 |
| Stop Loss (SL) | 1.10053 | 1.10910 |
The overall trend for the EUR/USD pair remains bullish, supported by technical indicators, but with potential for short-term corrections. Traders are advised to monitor key support and resistance levels and MACD signals to identify entry and exit opportunities.
