The EURUSD is showing volatile movement with failed attempts to stabilize above key resistance areas, indicating continued weakness in upward momentum. The overall trend remains neutral with a bearish bias, as the price moves within a defined range between clear support and resistance levels.
EURUSD Technical Report: Market Overview
General Trend: Bearish.
Strong Resistance: 1.0810 – 1.0830, which the price has recently failed to break.
Important Support: 1.0768 – 1.0750, which may determine the continuation or reversal of the trend.
Economic Influences: The euro is weakening due to an economic slowdown in the eurozone, in addition to the dollar’s strength supported by US data.
EURUSD Technical Report: Technical Indicator Analysis
Moving Averages
Short-term moving averages (50 and 100) indicate a slowdown in upward momentum.
The 200-period moving average (dashed red) forms a dynamic resistance barrier above the price, enhancing the likelihood of continued selling pressure.
MACD Indicator
A loss of upward momentum with the start of a negative crossover may indicate the beginning of a new downward wave.
Stochastic Indicator
The indicator’s decline to the 27 level reflects the beginning of a weakening upward momentum, but without confirming the price has entered the oversold zone.
Possible Scenarios
Bearish Scenario
- A break of 1.0801 will confirm the price weakness and push it towards 1.0768 and then 1.0750.
- Continued trading below 1.0810 supports the continuation of the downtrend.
Bullish Scenario
- If the price can stabilize above 1.0810, we may see a new test of 1.0830.
- A break of 1.0830 will open the way for a rise towards 1.0850 – 1.0880.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.08014 | 1.07768 | Entry point |
| First resistance: 1.08305 | First support: 1.07505 | Target Point 1 (TP1) |
| Second resistance: 1.08500 | Second support: 1.07200 | Target Point 2 (TP2) |
| 1.07768 | 1.08014 | Stop Loss (SL) |
The EURUSD pair continues to trade within a bearish consolidation range, with weak upward momentum reflecting continued selling pressure on the price. Trading below 1.0810 increases the likelihood of a continued decline toward the target levels of 1.0768 – 1.0750, requiring close monitoring of price movements around these pivotal levels.
