EURUSD Technical Analysis :pair continues to trade within a weak downtrend at the moment, as the pair witnessed a corrective movement from its lowest level today at 1.0417 to the highest price recorded in trading so far at 1.0500. At the moment, the pair is trading at the level of 1.0486, reflecting slight volatility in the market amidst a state of cautious calm.
EURUSD Technical Analysis: Technical Analysis
- Moving Averages:
The EUR/USD pair shows prices trading above the main moving average indicators, allowing room to expect a possible shift towards the upside. Trading prices above these averages reinforces the idea of the possibility of moving towards a gradual rise.
provided that the pair continues to stabilize above these levels.
- MACD Indicator:
Despite the expected upward trend, the MACD indicator shows weak negative signals.
as the two lines are trading in a lower negative area. This indicates weak upward momentum and the presence of selling pressures that may limit the continuation of the upward trend sharply in the near term.
Today’s Outlook
The EUR/USD pair may witness some volatility in the coming hours, with the possibility of continuing the upward correction if the pair continues to trade above the moving averages. If the pair manages to break the resistance level of 1.0500, this may open the way for more gains towards 1.0530.
But if the pair fails to maintain its current levels, we may witness a slight decline towards the nearby support at 1.0450.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.0502 | 1.0457 |
| Target Point 1 (TP1) | First resistance: 1.0528 | First support: 1.0439 |
| Target Point 2 (TP2) | Second resistance: 1.0549 | Second support: 1.0428 |
| Stop Loss (SL) | 1.0457 | 1.0502 |
While the EUR/USD pair is still trading in a narrow range with a weak downtrend, trading above the moving averages could signal a potential reversal to the upside if it continues to hold above these levels. However, the MACD should be monitored as it shows weak upward momentum.
reinforcing the need for caution and anticipation before making firm trading decisions.
