EURUSD Technical Analysis: The EUR/USD pair appears today in a downtrend, but there are signs of weakness in this trend. The pair recorded a low of 1.1124, a high of 1.1158, and the current trading price is at 1.1151, indicating some corrective movements.
EURUSD Technical Analysis: Technical Analysis
Looking at the technical indicators, we find that the pair has started trading slightly above the moving averages, indicating a decline in the strength of the decline. The MACD indicator indicates a weakness in the downtrend, as the main line of the indicator is heading upwards, reflecting the possibility of a reversal or upward correction in prices.
EURUSD Technical Analysis :Recommendations
- Main strategy: If the pair continues to trade above the moving averages and the MACD reading rises, entering into long trades may be appropriate, taking into account the following resistance levels.
- Alternative strategy: If the pair breaks the 1.1124 level and additional weakness indicators appear on the MACD, selling trades may be worthwhile.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.1175 | 1.1136 | Entry point |
| First resistance: 1.1190 | First support: 1.1117 | Target Point 1 (TP1) |
| Second resistance: 1.1210 | Second support: 1.1080 | Target Point 2 (TP2) |
| 1.1136 | 1.1175 | Stop Loss (SL) |
Despite the general downtrend, signs of weakness point to possible corrective moves. Therefore, it is advisable to closely monitor technical indicators and assess risks when making decisions.
