EURUSD Technical Analysis: Today, the EUR/USD pair is trading within an upward trend, but with some weakness in the upward momentum. The pair reached its highest price today at 1.0457 before falling to its lowest level at 1.0379, and is currently trading at 1.0390. These movements indicate the presence of volatility in the market, which requires close monitoring.
EURUSD Technical Analysis: Technical Analysis
Moving Averages:
Technically, the pair is currently trading below the main moving averages, which enhances the chances of a short-term decline. The price crossing below these averages highlights potential selling pressure that may continue to push the pair down if it continues to fail to regain the resistance level at 1.0457.
MACD Indicator Analysis:
MACD Indicator is showing positive signals supporting the upward trend, but there is a noticeable decline in the strength of the upward momentum. The rise in the indicator is slowing down significantly, indicating weakness in the current upward trend. This signal foretells a possible reversal in the trend if the momentum continues to decline.
Today’s trading outlook:
The pair is expected to continue its volatile trading today, with the most likely scenario remaining that the bearish pressure will continue if the pair fails to surpass the 1.0457 level. If prices decline further, we may witness a test of stronger support levels around 1.0350 or even 1.0300. However, the MACD signals remain supportive of some bullish momentum, keeping the door open for the pair to return to the upside if a breakout of important resistance levels is achieved.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.0413 | 1.0371 |
| Target Point 1 (TP1) | First resistance: 1.0430 | First support: 1.0342 |
| Target Point 2 (TP2) | Second resistance: 1.0440 | Second support: 1.0325 |
| Stop Loss (SL) | 1.0371 | 1.0413 |
The technical outlook for the EUR/USD pair remains volatile, with bearish potential at the moment due to the price trading below the major moving averages and the apparent weakness in the bullish momentum according to the MACD indicator. It is important to closely monitor the development of the markets today, as a breakout of key resistance levels will be needed to start the return to the upside.
