Technical Analysis for EUR/USD : The euro is under corrective pressure after a short upward trend supported by weaker-than-expected US inflation data, which negatively impacted the dollar.
Currently, markets are awaiting upcoming monthly data (especially US unemployment), which increases volatility in the short term.
Technical Indicator Analysis
Moving Averages
The price has returned to move below the 50-day moving average.
The convergence of the averages and the absence of a clear trend indicate volatility.
MACD
A new negative crossover with weak momentum.
The beginning of a bearish divergence after a previous positive wave.
Stochastic:
Declines from the 80-day zone (overbought).
A sign of a continued correction
Technical Analysis for EUR/USD : Expected Technical Scenarios
Bearish Scenario (likely):
A break of 1.1361 pushes the price to 1.1340.
A break of 1.1340 confirms a resumption of the decline towards 1.1300.
Bullish Scenario (currently weak alternative):
A rebound from 1.1361 may retest 1.1400.
The rise will not resume until 1.1420 is breached with a clear clos
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.14008 | 1.13617 | Entry point |
| First resistance: 1.14209 | First support 1.13403 | Target Point 1 (TP1) |
| Second resistance 1.14452 | Second support 1.13202 | Target Point 2 (TP2) |
| 1.13617 | 1.14008 | Stop Loss (SL) |
The EUR/USD pair is gradually losing momentum after a strong rejection from the 1.1420 resistance level.
Technical indicators support a further correction as long as 1.1400 is not recaptured.
Recommendation: Sell on a bounce or break of 1.1361 with targets at 1.1340 and a stop loss above 1.1420.
