EURUSD Technical Report: Forecast: The EUR/USD pair has been trading in a downtrend on the H1 (one-hour) timeframe since March 18, experiencing strong selling pressure. The pair has attempted several times to break key support levels but remains volatile within a narrow range. The chart shows that the price is under pressure from the moving averages, indicating a continuation of the downtrend unless specific resistance levels are breached.
EURUSD Technical Report : Market Overview
General Trend: Short-term bearish, with clear resistance at 1.0849.
Influencing Factors:
- Weak European economic data compared to its US counterpart.
- US Federal Reserve policies remain supportive of the dollar’s strength, increasing pressure on the euro.
- Market volatility due to geopolitical tensions and their impact on the dollar’s safe-haven status.
EURUSD Technical Report: Technical Indicator Analysis
- Moving Averages
The 50-period moving average acts as a dynamic resistance for the downtrend.
The 200-period moving average: shows a strong downtrend, increasing the likelihood of continued selling pressure.
- MACD Indicator
The indicator shows negative momentum, with the fast line moving below the slow line.
Negative bars in the area below the zero line confirm the downtrend.
- Stochastic Indicator
The indicator is moving at 47.28, indicating fluctuating momentum with no clear signs of overbought or oversold conditions.
EURUSD Technical Report: Possible Scenarios
Bearish Scenario (Most Likely)
- If the price continues below 1.0849, it is likely to resume the decline towards 1.0815 and then 1.0795.
- A break of 1.0795 will accelerate the decline towards 1.0770.
Bullish Scenario (Alternative)
- If 1.0849 is broken, we may witness a corrective upward move towards 1.0870 – 1.0890, but the overall trend will remain weak unless 1.0900 is surpassed.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.08300 | 1.08150 | Entry point |
| First resistance: 1.08490 | First support: 1.07950 | Target Point 1 (TP1) |
| Second resistance: 1.08790 | Second support: 1.07600 | Target Point 2 (TP2) |
| 1.08150 | 1.08300 | Stop Loss (SL) |
The current trend is bearish, with the possibility of a further decline if the support levels are broken.
Best Trading Strategy:
- Sell trades upon a break of 1.0815, targeting 1.0795 – 1.0770.
- Buy only if 1.0849 is breached, targeting higher levels.
Monitor US economic news, as it can significantly impact price movement.
