EURUSD Technical Analysis: Weak Rise

EURUSD Technical Analysis: The EUR/USD pair witnessed an upward movement in today’s trading, as the pair recorded its highest trading level so far at 1.03106 and its lowest at 1.02753. Currently, the pair is trading at 1.02951, indicating relative stability in a narrow range during the last sessions.

EURUSD Technical Analysis: Technical Analysis

Technically, the EUR/USD pair shows that prices are trading above the moving averages (MA), which supports the continuation of the upward trend in the short term. This situation is a positive sign for investors who prefer buying strategies in light of this upward trend.

As for the MACD indicator, it shows positive signals indicating the possibility of the continuation of the upward trend, but there are indications of weakness in the current upward momentum. The decrease in the divergence between the MACD lines may be an indication of a slowdown in the trend’s strength, which means caution in making buying decisions under these circumstances.

Forecast:

The EUR/USD pair is expected to continue moving in the upward direction, provided that it maintains trading above the 1.0275 level. If trading continues above this level, we may see further upside towards 1.0310 and then 1.0350. On the other hand, if we see a pullback below 1.0270, it may indicate the beginning of a potential downside correction, which requires careful monitoring of technical momentum and market trends.

EURUSD Technical Analysis

Trading strategies based on Buy/Sell levels

EURUSD In case of buying in case of selling
Entry point 1.03134 1.02611
Target Point 1 (TP1) First resistance: 1.03375 First support: 1.02413
Target Point 2 (TP2) Second resistance: 1.03590 Second support: 1.02312
Stop Loss (SL) 1.02611 1.03134

 

Despite the current bullish trend, it is important to monitor momentum indicators such as the MACD carefully, as a weakening trend could signal a possible correction or pullback. The 1.0270 level remains an important barrier to watch, and it is a key support level that could help reinforce the upside if trading continues above it.

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