EURUSD Technical Analysis: The EUR/USD pair showed a significant decline at the beginning of the week, as it is currently trading around the 1.0818 level. The pair recorded a high of 1.0820 and a low of 1.0780. This decline indicates a weakness in the downtrend, which opens the door for a possible rebound in prices.
EURUSD Technical Analysis :Technical Analysis
When reviewing the chart, we notice that prices are trading above the moving averages, which indicates a relative strength in the uptrend. However, the MACD indicator shows a negative trend, but it is noticeably weak, which reinforces the hypothesis of a possible reversal in the trend.
Today’s Outlook
The EUR/USD pair is expected to witness volatility during the day, with the possibility of a rise in prices if the weakness of the downtrend continues. The support and resistance levels at 1.0780 and 1.0820, respectively, should be monitored, as these levels can affect the price movement.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.0818 | 1.0808 | Entry point |
| First resistance: 1.0833 | First support: 1.0793 | Target Point 1 (TP1) |
| Second resistance: 1.0841 | Second support: 1.0778 | Target Point 2 (TP2) |
| 1.0808 | 1.0818 | Stop Loss (SL) |
There seems to be a chance for a bullish trend if the weakness continues to the downside. We recommend following market indicators closely, as any break of resistance levels may reinforce the pair’s upward trend.
