EURUSD Technical Analysis: Weak Downside

EURUSD Technical Analysis: The EUR/USD pair is trading in a weak downtrend during the American session, recording a high of 1.0852 and a low of 1.0833, with the price currently trading at 1.0846.

EURUSD Technical Analysis Technical Analysis:

By analyzing the chart, we notice that prices are trading above the moving averages, indicating a weakness in the current trend. At the same time, the MACD indicator shows a decline in the strength of the negative trend, which may indicate a possible correction or a temporary pause in the decline.

Trading Expectations:

As the downtrend continues to weaken, there may be an opportunity to re-evaluate trading strategies, especially if technical indicators show signs of improvement.

EURUSD Technical Analysis

Trading strategies based on Buy/Sell levels

In case of buying in case of selling EURUSD
1.0871 1.0833 Entry point
First resistance: 1.0883 First support: 1.0813 Target Point 1 (TP1)
Second resistance: 1.0909 Second support: 1.0785 Target Point 2 (TP2)
1.0833 1.0871 Stop Loss (SL)

 

Traders should follow price movements carefully, taking into account the influence of technical indicators on their decisions, as current developments may open new opportunities in the market.

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