EURUSD Technical Analysis: The EUR/USD pair is trading in a weak downtrend during today’s trading. The pair rose from the lowest trading price of the day at 1.0340, to reach the highest price so far today at 1.0418, and is currently trading at 1.0405. This movement indicates a weak downtrend, with some price fluctuations.
EURUSD Technical Analysis: Technical Analysis
Through technical analysis, we notice that prices are trading above the moving average indicators, which weakens the downtrend and enhances the chances of an upward movement. The MACD indicator also shows a negative trend, but this trend is very weak and reflects a lack of downward strength. These technical indicators indicate increasing chances of an uptrend if prices continue to trade above the moving average levels.
Fundamental Analysis:
Economically, the Core Personal Consumption Price Index (PCE) data affected the pair’s movement today. The data came in lower than expected, which contributed to supporting the pair’s rise, as this indicator is considered one of the most important indicators of inflation in the United States.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.0418 | 1.0385 |
| Target Point 1 (TP1) | First resistance: 1.0433 | First support: 1.0374 |
| Target Point 2 (TP2) | Second resistance: 1.0459 | Second support: 1.0364 |
| Stop Loss (SL) | 1.0385 | 1.0418 |
Based on technical and fundamental analysis, the EUR/USD pair shows a weak downtrend, with greater chances of a rise if prices remain above the moving averages. The impact of the US PCE data also helped push the pair higher, which enhances the chances of a rise in the near term.
