EURUSD Technical Analysis: The EUR/USD pair is currently witnessing weak trading activity in a downward direction, recording a daily high of 1.0533 and a low of 1.0477, and is currently trading at 1.0494. The pair appears to be under selling pressure, with trading continuing below the moving averages, reinforcing the bearish scenario in the market.
EURUSD Technical Analysis: Technical Analysis
- Moving Averages: The price is trading below the main moving averages, indicating the continuation of the downward trend in the short and medium term. This indicates that selling power is currently controlling the market.
- MACD Indicator: The MACD indicator is showing strong negative signals, as the indicator records low levels, indicating that selling momentum is increasing. These may be additional signals that support the continuation of the downward trend.
Economic Data:
Investors are awaiting the release of US economic data in the coming hours, especially the retail sales index data. This data will greatly affect the pair’s movement, as it can reflect the strength of the US economy, supporting the US dollar and contributing to pressure on the euro. This data is expected to be pivotal in determining the direction of the pair’s movement in the coming period.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.0513 | 1.0483 |
| Target Point 1 (TP1) | First resistance: 1.0522 | First support: 1.0469 |
| Target Point 2 (TP2) | Second resistance: 1.0532 | Second support: 1.0449 |
| Stop Loss (SL) | 1.0483 | 1.0513 |
With the EUR/USD pair trading below the moving averages and the MACD indicator showing negative signals, the overall trend remains bearish in the short term. With the US retail sales data awaited, this data will be crucial in determining the next direction of the pair. Therefore, market developments should be monitored carefully and decisions made based on economic developments.
