Technical Analysis for EUR/USD : The euro rose against the US dollar after weaker-than-expected US data, prompting investors to reduce bets on continued Fed monetary tightening. In contrast, Eurozone data remains stable, providing additional support for the euro in the short term.
Technical Indicator Analysis
Moving Averages
The price is above the 50- and 100-day moving averages.
The averages are trending upward, supporting the positive trend.
MACD
Positive but showing a slowdown in upward momentum.
No bearish crossover yet.
Stochastic:
Starting to decline from overbought areas.
May indicate a slight short-term correction.
Bullish Scenario (currently weak):
Stabilization above 1.1395 reinforces the target of 1.1415 and then 1.1451.
A break of 1.1451 activates further upward momentum towards 1.1480.
Bearish Scenario
Failure to stabilize above 1.1395 re-establishes pressure on 1.1379.A break of 1.1379 may push towards a test of 1.1360.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.14150 | 1.13794 | Entry point |
| First resistance: 1.14351 | First support 1.13605 | Target Point 1 (TP1) |
| Second resistance 1.14552 | Second support 1.13402 | Target Point 2 (TP2) |
| 1.13794 | 1.14150 | Stop Loss (SL) |
The EUR/USD pair is showing stable bullish signals as long as it holds above 1.1379, but the current decline in momentum requires caution against rapid corrections.
Confirmation of the trend strength requires a clear close above 1.1415.
Recommendation: Buy on rebounds above 1.1395 or after a breakout above 1.1415 with a stop loss below 1.1370.
