EURUSD Technical Analysis: The EUR/USD pair continues to move in an uptrend during today’s trading, but this trend shows some clear weakness. The pair recorded its highest level so far at 1.04190 and the lowest level at 1.03877, while it is currently trading at 1.03973.
EURUSD Technical Analysis: Technical Analysis
Looking at the technical indicators, it appears that the pair is trading below the moving averages, reflecting a weakness in the upward momentum. This suggests that the current trend may be fragile and unsustainable at the moment. On the other hand, the MACD indicator indicates a positive trend, but it is very weak.
which reinforces the hypothesis that the momentum of the upward movement may be limited.
Trading Expectations:
Under these conditions, trading is expected to continue in a narrow range with the possibility of a correction in case of weak momentum. With the approach of the speech of the US President, Donald Trump, today, we may witness significant volatility in the market. Therefore, we recommend being cautious in day trading and closing positions before the speech to avoid the risks associated with sudden price movements.
Trading strategies based on Buy/Sell levels
| EURUSD | In case of buying | in case of selling |
| Entry point | 1.04147 | 1.03736 |
| Target Point 1 (TP1) | First resistance: 1.04353 | First support: 1.03584 |
| Target Point 2 (TP2) | Second resistance: 1.04550 | Second support: 1.03471 |
| Stop Loss (SL) | 1.03736 | 1.04147 |
Based on the current situation, the uptrend remains weak and is likely to be corrected under the current circumstances. With the important political speech awaited, it is better to be cautious and close positions before the speech to avoid unexpected market impacts.
