Technical Analysis for EUR/USD : The euro has recently experienced strong selling pressure following better-than-expected US economic data, which has given the dollar some strength.
Conversely, some Eurozone indicators have shown a slight slowdown, leading to a loss of upward momentum that had been supported by expectations of less aggressive monetary easing.
Technical Indicator Analysis
Moving Averages
The price is moving near the three moving averages.
The averages indicate a weak trend and a lack of clarity in the direction.
MACD
the MACD lines are very close together.
No clear momentum, confirming the current sideways movement
Stochastic
Rising from the middle area (50).
Signal of a limited upward correction attempt.
Possible Scenarios
Bullish Scenario
A break of 1.1390 could push towards 1.1410.
A close above 1.1410 opens the way for a target of 1.1440.
Bearish Scenario
A break of 1.1350 would restore pressure towards 1.1332.
A break of 1.1332 would confirm the continuation of the downside correction.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.13901 | 1.13510 | Entry point |
| First resistance: 1.14102 | First support 1.13320 | Target Point 1 (TP1) |
| Second resistance 1.14235 | Second support 1.13102 | Target Point 2 (TP2) |
| 1.13510 | 1.13901 | Stop Loss (SL) |
The EUR/USD pair is in a clear sideways movement with movements between support and resistance.
A careful monitoring of a breakout of 1.1390 or a breakout of 1.1350 is essential to determine the next trend.
It is recommended not to enter aggressively before a breakout or breakout is confirmed, and to adhere to strict risk management in light of weak momentum.
